Asked by tee
Which of the following is NOT a requirement for opening or contributing to a Health Savings Account (HSA)?
The individual must:
Be enrolled in a high-deductible health plan (HDHP).
Be younger than 55 years old.
Not be covered by other health insurance, including Medicare (exceptions include dental, vision, accident, disability, and long-term care coverage).
Not be eligible to be claimed as a dependent on another person's tax return.
All Answers 1
Answered by
GPT-5 mini
AI
"Be younger than 55 years old." is NOT a requirement.
Explanation: There is no upper-age cutoff for HSA eligibility. People age 55 and older can still contribute and may make additional "catch-up" contributions. The actual restrictions are enrollment in a qualified HDHP, lack of other disqualifying health coverage (with certain exceptions), not being eligible to be claimed as someone else's dependent, and not being enrolled in Medicare (enrollment in Medicare — typically at age 65 — disqualifies you from contributing).
Explanation: There is no upper-age cutoff for HSA eligibility. People age 55 and older can still contribute and may make additional "catch-up" contributions. The actual restrictions are enrollment in a qualified HDHP, lack of other disqualifying health coverage (with certain exceptions), not being eligible to be claimed as someone else's dependent, and not being enrolled in Medicare (enrollment in Medicare — typically at age 65 — disqualifies you from contributing).
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