Health Savings Account (HSA)
A Health Savings Account (HSA) pairs with an HSA-qualified high-deductible private health insurance plan to give you tax-advantaged savings for medical expenses. Below: how HSAs work, eligibility, limits, and how to enroll in a qualifying plan. Need help choosing one? Call 1-800-MEDIGAP.
How a Health Savings Account works
An HSA is owned by you, funded with pre-tax dollars, and used for qualified medical expenses. To contribute, you must be enrolled in an HSA-qualified high-deductible health insurance plan. Unused funds roll over year to year and can be invested.
Find an HSA-qualified plan
Compare carriers and their HSA-qualified plan applications on our health insurance companies directory, get insurance quotes, or apply by state.
Frequently asked questions
What is a Health Savings Account (HSA)?
A Health Savings Account is a tax-advantaged account you can use for qualified medical expenses when you're enrolled in an HSA-qualified high-deductible health insurance plan. Contributions, growth, and qualified withdrawals are tax-advantaged.
Who is eligible for an HSA?
You must be covered by an HSA-qualified high-deductible health plan (HDHP), not enrolled in Medicare, and not claimed as a dependent. Verify current IRS rules before contributing.
What are the HSA contribution limits?
The IRS sets annual HSA contribution limits that adjust each year (with higher limits for family coverage and a catch-up for those 55+). Check the current year's IRS limits.
Which health insurance plans qualify for an HSA?
HSA-qualified high-deductible health plans. Compare health insurance plans and their applications, or call 1-800-MEDIGAP.
How do I open an HSA?
Enroll in an HSA-qualified plan, then open an HSA with a bank or HSA custodian. For help choosing a qualifying plan, call 1-800-MEDIGAP.
What are the tax benefits of an HSA?
Contributions may be tax-deductible, funds grow tax-free, and qualified medical withdrawals are tax-free — a triple tax advantage under current IRS rules.
Related HSA topics
This independent repository links to publicly available health insurance application resources. We are not the insurance carrier. For official plan details, contact the carrier directly.