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What qualifies as an HSA?

The following requirements must be met:
•  Minimum deductible: $1,000 individual; $2,000 family
•  Out-of-pocket maximum (includes deductible): $5,000 individual; $10,000 family
•  No services paid for prior to meeting deductible (except for preventive care)
•  No deductible required for preventive care
•  For family coverage: family deductible must be met before any reimbursement can be made
•  No prescription drug co-payments
•  Higher limits allowed for non-participating provider services


What are the advantages of an HSA?