My wife and I are considering an HSA. She’s receiving disability payments.?

Question by Todd: My wife and I are considering an HSA. She’s receiving disability payments.?
Can we set up an HSA under these parameters? I provide family health insurance via my employer. What are the rules regarding establishing an HSA for our situation, and where do I go to get started?

Best answer:

Answer by Zarnev
You cannot set up an HSA unless the insurance that is provider through your employer is an HSA qualified plan. If it is so, they will have the information on how to set up the account.

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2 comments to My wife and I are considering an HSA. She’s receiving disability payments.?

  • Insurance Pickle.com

    The rules are that your health insurance plan needs to be a QHDHP (qualified high deductible health plan) and the key word there is “qualified” as not any high deductible plan will do.

    If you don’t have a QHDHP then you can’t open an HSA. PERIOD.

  • StephenWeinstein

    The disability payments have nothing to do with the HSA. You can do it if you would have been able to do if without the disability payments. You cannot do it if you would not have been able to do it without the disability payments.

    If the “family health insurance” is a qualifying “High Deductible Health Plan” (HDHP), and is your only health insurance, then you can set up an HSA, whether or not she is receiving disability insurance.

    If you do not have an HDHP, or if you have any other type of health insurance (even if you also have an HDHP), then you cannot set up an HSA, whether or not she is receiving disability insurance.

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