How To Open Your Own HSA As An Individual

1. First, be HSA-eligible

   1. You must be enrolled in a High-Deductible Health Plan (HDHP) that qualifies for HSA contributions.

   2. You cannot be covered under a non‐HDHP plan, Medicare, Medicaid, or be claimed as someone else's tax dependent.

      1. How to Open an HSA (2025 Edition)
         

2. Choose a Qualified HSA Custodian

   1. You don’t need your health plan provider for this—any IRS-approved trustee (such as a bank, credit union, insurance company, or HSA provider) can host your account. IRS Publication 969

   2. HSA for America helps you identify and select an HSA custodian based on factors like fees, investment options, and ease of use. They’ll also guide you through opening the account. How to Open an HSA (2025 Edition)
      

3. Open the Account

   1. Opening an HSA usually takes just minutes online. The custodian will set everything up, and you’ll own the account outright (i.e., it’s fully portable).

      1. Self Directed HSA Explained

   2. We can direct you personally to the HSA advisor that can help you if you want.
      

4. Contribute to Your HSA

   1. You—and anyone else (like family members)—can contribute money. All contributions are tax- deductible, and there are no income limits on eligibility.

      1. HSA FAQS Health Savings Account Answers

   2. 2025 contribution limits are $4,300 for individuals and $8,550 for families, with an additional $1,000 catch‐up for those age 55 or older.

      1. Why You Should Consider an HSA Even If You're Not Rich
         

5. A Self-Directed Option (If Desired)

   1. If you prefer full control over investments and administration, consider a self-directed HSA. You'll need an HDHP and potentially a third-party administrator (TPA), depending on the custodian’s setup.

      1. Self-Directed HSA Explained: Boost Long-Term Savings with Smarter Investments
         

6. Portability & Long-Term Benefits

   1. Your HSA funds stay with you, regardless of job changes or insurance transitions. Whether contributions are made by you, an employer, or anyone else, those funds remain yours to use for eligible medical expenses.

      1. NEW: At Last, You Can Combine Health Sharing With HSAs! Here’s How.
         

7. HSA accounts provide a Triple Tax Advantage:

   1. Contributions are tax-deductible

   2. Growth is tax-free (interest & investments)

   3. Withdrawals for qualified medical expenses are tax-free

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