Who is eligible for a federally tax-deferred HSA?

Individuals under the age of 65 are eligible to contribute to an HSA if they have a qualified health plan.

For self-only policies, a qualified health plan must have an annual deductible that is not less than $1,100 and the annual out-of-pocket expenses cannot exceed $5,600 (2008 figures - indexed annually).

For family policies, a qualified health plan must have an annual deductible that is not less than $2,200 and the annual out-of-pocket expenses cannot exceed $11,200 (2008 figures - indexed annually).

Preventive care services are not subject to the minimum deductible requirement. In addition, coverage for accidents, disability, dental care, vision care, and long-term care is not subject to the minimum deductible requirement.

* Federally Qualified HSA: To have a Federally Qualified HSA, you must purchase and maintain a high-deductible insurance policy and you cannot be covered by another low-deductible insurance policy.

* Note on compliance with your health plan: This Internet site describes services and benefits of the American Health Value HSA Account, which are subject to change without notice.  It is not intended to provide legal, health, or tax advice.  Consult your own legal, medical, and tax counsel for guidance on issues that may be affected by your specific circumstances.

* Please note the conditions of your plan: If you intend to use the American Health Value HSA to pay your deductible or other services covered under you health care plan, we strongly recommend that you always comply with the conditions of your plan, including pre-certification requirements.