Requirements of an HSA a. Cash Contributions. Regular or annual HSA contributions must be in cash, which may include a check, money order, ACH or wire transfer. It is within the Custodian’s discretion to accept in-kind contributions for rollovers or transfers.
Requirements of an HSA. A. Cash Contributions – Your contribution must be in cash, unless it is a rollover contribution.
Requirements of an HSA. A. ELIGIBILITY REQUIREMENTS – You are an eligible individual with respect to establishing an HSA for any month you (1) are covered under a high deductible health plan (HDHP) as of the first day of such month; (2) are not also covered by any other health plan that is not a HDHP and that provides coverage for any benefit covered under the HDHP (with limited exceptions); (3) are not enrolled in Medicare; and (4) are not eligible to be claimed as a dependent on another person’s tax return. The requirement that the individual not be covered by any other health plan does not include coverage for accidents, disability, dental care, vision care or long-term care or coverage for “permitted insurance”, which generally is insurance which relates to liabilities under workers’ compensation laws, tort liabilities, auto insurance, insurance for a specific disease or illness and insurance that pays a fixed amount of hospitalization per day.
