Here's the 1 HSA Mistake You Don't Want to Make in 2024
To contribute money to an IRA, all you really need is earned income, which a lot of people have. Similarly, if your employer offers a 401(k) plan, you may be eligible to participate as soon as you become an employee.
But eligibility for an HSA, or health savings account, isn't as simple. That's because your health insurance plan needs to meet certain criteria for you to be able to participate.
In 2024, you must have a minimum deductible of $1,600 for self-only coverage to qualify for an HSA, as well as an annual out-of-pocket maximum of $8,050. For family coverage, you must have a minimum deductible of $3,200 to qualify for an HSA, and your health plan must have an annual out-of-pocket maximum of $16,100.
Source Fool.com
