Opening an HSA – What do I need?

When opening your Health Savings Account, you’ll need to have the following handy:

  • Your Social Security Number
  • Your Driver’s License or State ID
  • Your contact information, including an email address
  • Your employer information

If you’re enrolled in a high deductible health insurance plan through your employer, be sure to obtain the specific enrollment link provided by your employer.

HSA Signer(s) Information

By adding a signer, you’re designating a person(s) to have signing authority on your account and the ability to access funds from the account with a dependent HSA debit card. A signer does not have ownership of the funds and may only sign for the account until the owner’s death or revocation of signatory rights. We’ll ask the same information for the signer as the applicant information.

HSA Beneficiary Information

You must have at least one beneficiary listed on your account.

  • Legal Name
  • Date of Birth
  • Social Security Number

Open An HSA

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HSA Eligibility Requirements – Do I qualify for an HSA?

To qualify for an HSA, you must meet the following requirements:

  • To open and continually contribute funds to an HSA, you must be covered by a qualified high deductible health plan (HDHP). However, you can also open an HSA to transfer existing funds from your previous HSA, regardless of your health plan coverage.
  • You must have no other health coverage, including a spouse’s plan that provides benefits covered by your HDHP. You can have accident, disability, dental, vision, or long-term care coverage or insurance that provides benefits for a specific disease or illness, a fixed amount for hospital stays or liability coverage, such as worker’s compensation.
  • You are not enrolled in Medicare.
  • You do not receive health benefits under TRICARE.
  • You have not received Veterans Administration (VA) benefits within the past three months.
  • You cannot be claimed as a dependent on someone else’s tax return.
  • You are not covered by a general purpose Health Care Flexible Spending Account (FSA) or Health Reimbursement Account (HRA). Limited-purpose FSAs and HRAs are permitted.

 

You can have additional coverage, called “permitted insurance”, including:

  • Specific disease or illness insurance
  • Accident, disability, dental care, vision care, and long-term care insurance
  • Discount card, such as a pharmacy card
  • Insurance that provides a fixed payment per day (or other period) for hospitalization

Open An HSA