Finance Questions? Ask a Financial Expert for Answers ASAP
Hello, and welcome to JustAnswer.com
In order to be eligible to open a HSA, certain criteria must be met.
First, you have to have a High Deductible Health Plan
Ok how do I know if we have high deductables
Is your deductible at least 1,200 for individual or 2,400 for family?
not sure will check a minute
Okay I will give you a moment.
The requirements are as follows: To be eligible to open an HSA, an individual must meet the following requirements:
But, you can't open up an HSA if a spouses' Flexible Spending Account can be used to pay any medical expenses before deductibles are met
For my insurance my deductible is 1000.00 in network. Maximum out of pocket is 1500.00
You don't qualify for a HSA
I wish I had better news for you
The kid's deductible is 450.00 max out of pocket is 1800.00 in network.
Yes, your plan must have a minimum deductible of $1,200 - so you do not qualify for a HSA account
You will be limited to using the Flex Spending account
ok thank you for your advice
You're welcome. Is there anything else I can assist you with today? If not, please rate my response as "excellent" so that I may receive credit for assisting you today