Health Savings Accounts (HSA) are tax-exempt trusts or custodial accounts established exclusively for the purpose of paying or reimbursing qualified medical expenses of you, your spouse and your dependents. Open an HSA with as little as $50. Accessing your account and paying for medical expenses is easy with a MasterCard® debit card.
You must meet one of the following requirements to be eligible for a Health Savings Account:
- Have medical insurance coverage under an HSA-qualified “high deductible health plan” (HDHP)
- Have no other first dollar medical coverage
- Are NOT enrolled in Medicare
- Cannot be claimed as a dependent on someone else’s tax return