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The HSA Authority Insights

DISCLAIMER: This communication is not intended as legal or tax advice. The materials contain only a partial, general description of the benefits of Health Savings Accounts. The information is believed to be accurate as of the production date; however, Federal and state laws and regulations are subject to change. Please contact a competent legal or tax professional for personal advice on eligibility, tax treatment and restrictions.

Video Transcript

Hopefully, you already meet all of the eligibility requirements to enroll in and make deposits into an HSA from The HSA Authority at Old National Bank, but, let's make sure.

First and foremost, you must currently be enrolled in an HSA-qualified HDHP – or High Deductible Health Plan. You CANNOT be enrolled in any other non-HSA-qualified health plan.

You also CANNOT have, or be eligible to use, a general-purpose flexible spending account, commonly known as an FSA.

If you're claimed as a dependent on another person's tax return, then, unfortunately, you're not eligible, or...

If you're enrolled in Medicare, Medicaid or Tricare.

If you're eligible for VA medical benefits, you cannot have used them in the past three months, unless you used them for preventative services or treatment for a service-connected disability.

If you meet these requirements, then, get started and contribute right away. We want to make sure you have the funds you need for qualifying medical expenses when you or your family need them.

If you have any further questions about whether or not you're eligible to enroll in an HSA from The HSA Authority, at Old National Bank, just visit us online at TheHSAauthority.com.
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