Who is eligible for a federally tax-deferred HSA?

To be an eligible individual and qualify for an HSA, you must meet the following requirements:

You have a High Deductible Health Plan (HDHP) on the first day of the month (see deductible ranges below).
You have no other health coverage except what is permitted. See the "Other Health Coverage" section in IRS Publication 969.
You are not enrolled in Medicare.
You cannot be claimed as a dependent on someone else's tax return.

HSA Deductible Ranges For 2010
	Minimum Annual Deductable	Out-of-Pocket Maximum
Individual Coverage	$1,200	$5,950
Family Coverage	$2,400	$11,900

Note: Preventive care services are not subject to the deductible. In addition, coverage for accidents, disability, dental care, vision care, and long-term care is not subject to the deductible.

Click here for a summary of the differences between an HSA and an MSA.