Health Savings Account
Who Qualifies?

Personal Banking Savings CDs IRAs Card Services Personal Loans Real Estate Loans Internet Banking Bill Pay Insurance Investments Fees Business Banking Savings CDs IRAs Card Services Business Loans Internet Banking Bill Pay Insurance Investments Fees

Personal Bankers

Who is Eligible to Establish an HSA? Any individual who meets all these requirements may establish an HSA: Is not enrolled in Medicare (generally, under age 65) Is covered under an HDHP (and not covered under any other health plan that is not an HDHP) Cannot be claimed as a dependent on another person’s tax return. HSAs cannot be joint accounts.

What is an HDHP?

An HDHP is a high deductible health plan. You are responsible for determining if you are covered by a qualified high deductible plan before opening an HSA. If you are unsure, you should contact your health insurance provider.

An individual HDHP must have an annual deductible which is not less than $1150 and the plan must have a maximum annual out-of-pocket limit of $5800 for 2009.

An individual HDHP must have an annual deductible which is not less than $1200 and the plan must have a maximum annual out-of-pocket limit of $5950 for 2010.

A family HDHP must have an annual deductible which is not less than $2300 and the plan must have a maximum annual out-of-pocket limit of $11,600 for 2009.

A family HDHP must have an annual deductible which is not less than $2400 and the plan must have a maximum annual out-of-pocket limit of $11,900 for 2010.