Not sure about the requirements of an HSA. Do you have to have "earned income?" Any other requirements? Where do you buy such a plan?
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Pub 969
Please review IRS pub 969.Taxes after all are the dues that we pay for the privileges of membership in an organized society. - FDR -
Earned income
Is not a requirement.Comment
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You can contact most major health insurance carriers and they can refer you to financial organization they are affiliated with that act as trustee of the HSA plan. You do need a written plan, it does not need IRS determination letter.
There are also specific requirements on what type of high deductible insurance can be used within the plan.
You may also want to consult with a benefits consultant on how to go about establishing such a plan.Taxes after all are the dues that we pay for the privileges of membership in an organized society. - FDRComment
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If you have high deductible health insurance (of which more and more of us are being forced into, due to the health care crises), you walk into almost any bank and open an HSA (thats what I did).Comment
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You can setup an
HSA account with pretty much any bank or credit union.
In order to contribute to an HSA you must have a qualified high deductible plan. I have seen policies that had high deductibles but were not qualified.Comment
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You can also look at Tab 13 of TheTaxBook which talks about the rules for HSAs.
Read the information in TheTaxBook first and then ask a question on this message board if it does not answer your question.Comment
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