Eligibility and Requirements
Eligibility for an HSA simply requires four things:
- An HSA compatible High Deductible Health Plan (HDHP) must be chosen by the account holder.
- Account holders must be under age 65, or if over age 65, they must waive Medicare benefits.
- Account holders may not be enrolled in Medicare Plans A, B or D.
- Account holders cannot be a dependent on another person’s tax return.
There are no employment requirements or income limits.
The contribution maximum is limited by the IRS maximums.
The IRS allows account holders and employers to contribute to an HSA at their convenience. Money may
be deposited at any time and in any increment up to the maximum allowed per calendar year. Contributions
for any taxable year must be received by April 15 of the following year for filing your federal income
tax return in order to qualify for a deduction.
The funds in an HSA rollover each year, are 100% vested for the employee on day one and can grow
substantially over the years, due to the tax advantaged laws governing HSAs.
To get further information about Fremont Bank's HSA please contact us at:
For Individuals:
Call us at: (877) 478.4472 or Email Us today.
For Employers:
Call us at: (866) 222.7215 or Email Us today.
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