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Florida HSA Eligibility

The biggest hurdle for eligibility to set up a Florida Health Savings Account is coverage by a qualified high deductible health plan. Remember, just because you feel that your health insurance plan has a deductible that is too high doesnęt mean it qualifies under legal standards as a high deductible health plan. Please see our separate section on determining which plans are qualified. High-deductible health plans are designed to let your account take care of the earliest health care costs and routine services such as preventive care or diagnostic tests.

Additionally, to qualify for an Florida HSA you cannot have coverage under a health plan that is not a qualified high-deductible health plan. You also may not be claimed as a dependent on someone elseęs tax return or be eligible for Medicare benefits and qualify for an Florida HSA. A spouse is allowed to have single coverage under an Florida HSA plan, as long as he is not covered under his partneręs health care plan. However, the Florida HSA funds can only be used to pay for the qualified covered spouseęs medical expenses.

Another important note is that Florida HSA rules are determined at the federal level. This means that you may be eligible under state guidelines for a qualified high-deductible health insurance plan, but not eligible to open the savings accounts. Examples of this possibility include domestic partnerships and civil unions, which may be recognized by your state but not at a federal level.

As you can see, basic eligibility for HSAs is relatively open. Almost anyone who has the financial ability to contribute money to an account and doesnęt already have a plan they want to stick with can be a part of the trend toward HSAs. The main requirement is to make sure your plan qualifies as a high-deductible plan and you can take advantage of the enhanced choices and preferential tax treatment of a Health Savings Account.

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Health Savings Accounts Information for Florida

Overview of Florida health insurance and Florida health savings accounts

Why HSAs?
Why choose Florida HSAs instead of Florida health insurance?

HSA Eligibility
Basic eligibility requirements for a Florida health savings account

The Right Choice?
Florida HSA or Florida health insurance?

Qualified Plans
Qualified plans for Florida HSA

Account Requirements
Account Requirements for a Florida HSA

HSAs and Taxes
Tax differences between and HSA and a health savings account

Contributions to your Florida HSA explained

Qualified Medical Expenses
How you are allowed to use your HSA

Other Expense Issues
Other Florida medical expenses issues

HSAs, HRAs and MSAs
HSAs, MSAs, and HRAs - Deciding what plan will help you the most

Permissible Coverage Types
How your Florida HSA can operate as a complete health care solution

Pricing Transparency
How medical pricing may impact the efficacy of your HSA

Management Tips
How to properly manage your HSA account

Avoiding Pitfalls
Plan carefully when opening un HSA account and reap the benefits

Florida Health Insurance is only one click away. We are a friendly agency specializing in serving Floridians and their health insurance needs. We are available by phone at any time, since we know how it feels to shop for insurance without human contact. If you canęt find the information or Florida health insurance you need, please contact us by phone or email and we will gladly walk you through the process.