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enroll hsa

Can I Enroll in an HSA?

Before opening a Health Savings Account also known as an HSA, you must meet the criteria below depending on the provider:

  • Be covered by a qualifying High-Deductible Health Plan.
  • Not be concurrently enrolled in any other non-HSA qualified health insurance plan.
  • Not have or be eligible for reimbursement under a general-purpose Flexible Spending Account(FSA).
    • Exception: A limited-purpose FSAfor dental, vision, and/or dependent care is allowed if their HDHP doesn’t cover those services.
  • Not be claimed as a dependent on someone else’s tax return.
  • Not be enrolled in Medicare (Part A or B) or
  • Be 18 years of age or older.

For more information on what plans are actually HSA eligible gives us a call to match you to the right plan at 732-363-3888.

Cosmo Insurance Agency is a full-service independent insurance agency based in Hackensack (Bergen County) and Lakewood (Ocean County), New Jersey that offers an all-encompassing range of insurance options for both individuals and businesses. Cosmo keeps its promise to assure an efficient and creative approach to the services we offer. Each of our clients experience a personalized and long-term relationship with us. Our New Jersey based team of health brokers guides our clients in helping them choose the most cost-effective options. By incorporating our knowledge of the insurance guidelines for healthcare, employee benefits, life insurance, self-insurance, dental, disability, and long term care insurance, we keep our clients up-to-date with affordable plans that cover all their specific insurance needs.