Employees who meet eligibility requirements for health insurance benefits as defined in the State Group Health Insurance Plan documents may choose the CDHP/HSA or Local CDHP/HSA option.
To be eligible for a health savings account (HSA), you must meet the following requirements, as defined by the IRS:
- You must be covered under a qualifying high-deductible health plan (HDHP) on the first day of the month. A CDHP is a qualifying HDHP.
- You have no other health coverage except what is permitted by the IRS.
- You can’t be claimed as a dependent on someone else’s tax return.
- You are not enrolled in Medicare, TRICARE or TRICARE for Life.
- You haven’t received Veterans Affairs (VA) benefits within the past three months, except for preventive care. If you have a disability rating from the VA, this exclusion doesn’t apply.
- You do not qualify for a medical flexible spending account (FSA) if you are enrolled in the CDHP/HSA. You may, however, have a limited purpose FSA (L-FSA) for vision and dental expenses only.
Other restrictions and exceptions may also apply. We recommend that you consult a tax, legal or financial advisor to discuss your personal circumstances.