About News Locations Associates Careers Contact Search Account Access --Select Online Access-- BANKING ---- Consumer Internet Banking ---- Business Internet Banking TRUST & INVESTMENTS ---- Retirement Plan Participants ---- Private Investors OTHER BANKING ACCESS ---- Remote Deposit ---- Business Credit Card ---- Discount Brokerage ---- Positive Pay System ---- OnBase Web Access ---- Secure Upload ---- Points2U Rewards Program ---- WoodTrust Gift Cards ACCOUNT ACCESS HELP     Business Banking   Consumer Banking   Trust & Investments   Mortgage   Commercial Lending Deposit Services Business Credit Cards Points2U Business Internet Banking Remote Deposit Health Savings Accounts Other Services Mortgages Home Equity & Consumer Loans Consumer Internet Banking Checking Accounts Points2U Savings Accounts HSAs CDs Private Banking Verified by Visa Investment Management Fiduciary Services Retirement Plans Trusts & Estate Planning IRAs Financial Planning Discount Brokerage Mortgage Lending Mortgage Application Home Equity & Consumer Loans Health Savings Accounts Who Can Have an HSA High Deductible Health Plans (HDHPs) Finding HDHP Coverage HSA Contributions Determining Your Contribution Using Your HSA Advantages of HSAs What Happens to an HSA at Death? Need More Information about HSAs?   Consumer Banking Mortgages Home Equity & Consumer Loans Consumer Internet Banking Checking Accounts Overdraft Services Points2U Savings Accounts Health Savings Accounts Certficates of Deposit Private Banking Verified by Visa WoodTrust.com > Consumer Banking > Health Savings Accounts   Who Can Have an HSA? Any adult can contribute to an HSA if they: Have coverage under an HSA-qualified “high deductible health plan” (HDHP) Have no other first-dollar medical coverage (other types of insurance like specific injury insurance or accident, disability, dental care, vision care, or long-term care insurance are permitted). Are not enrolled in Medicare. Cannot be claimed as a dependent on someone else’s tax return. Contributions to HSAs can be made by individuals, employers, or both. However, the total contributions are limited annually. If individuals make a contribution, they can deduct the contributions (even if deductions are not itemized) when completing their federal income tax return. Contributions to the account must stop once enrolled in Medicare. However, money may be kept in the account and used to pay for medical expenses tax-free. Next: High Deductible Health Plans (HDHPs) Previous: Overview
	Business Banking Consumer Banking Trust & Investments Mortgage About News Locations Associates Careers Contact Search Copyright © 2008 WoodTrust Financial Corporation. All Rights Reserved. Privacy Policy Member FDIC TLGP Participation: Due to our substantial balance sheet strength and capital adequacy, WoodTrust Bank, N.A. has opted not to participate in the FDIC’s Transaction Account Guarantee Program effective January 1, 2010. After December 31, 2009, funds held in noninterest bearing transaction accounts will no longer be guaranteed in full under the Transaction Guarantee Program but will be insured up to $250,000 under the FDIC’s general deposit insurance rules. We have chosen not to participate in this program due in part to having been recognized by Bankrate.com and TheStreet.com – independent evaluators of bank financial conditions – for our financial strength. We are pleased to have been ranked amongst its highest achievers for safety and soundness. We will continue to serve our clients with the high standards and sound banking practices to which they are accustomed. Notice: If you are leaving a WoodTrust website and going to a third party site, that site may have a privacy policy different from WoodTrust and may provide less security than this WoodTrust site. WoodTrust and its affiliates are not responsible for the products, services, and content on the third party website.