If I have a family, can I still have an HSA?

A family of two dependents or more can have an HSA if a qualifying high-deductible health plan covers them. One caveat is that none of the family members can be claimed on another person’s tax return,¹ or they would be unable to contribute the maximum family contribution limit set annually by the IRS.²

Read more about the difference between an individual and a family HSA.

^{1. “Internal Revenue Bulletin: 2004-2: III. Contributions to HSAs. Q-2. Who is Eligible to Establish an HSA?” Internal Revenue Service, January 12, 2004. https://www.irs.gov/irb/2004-02_IRB.}

^{2. “Internal Revenue Bulletin: 2004-2: III. Contributions to HSAs. Q-3. What is a “High-Deductible Health Plan” (HDHP)?” Internal Revenue Service, January 12, 2004. https://www.irs.gov/irb/2004-02_IRB.}