Understanding Health Savings
Accounts (HSA) for 2026

PART 1:  The HSA-Eligible Medical Plans for 2026
   

    New for 2026:    All Bronze plans purchased through the Marketplace will be eligible for you to open and contribute to an Health Savings account in 2026!

Prior to 2026 you would need to purchase a High Deductible Health Plan (HDHP) also called and HSA-Eligible plan.    Click on the link below to preview the plans and get a quote:

   Quote Bronze plans at www.healthcare.gov 

 Part 2:  The HSA Savings Account opened at a bank

   Certain banks offer Health Savings accounts.  Think of them like a savings account where the money may go in tax-free.  If you earn income, the money is tax-free going into the account up to certain limits, and the money is tax-free when you withdraw the funds for certain health-related purposes.

   I have my own HSA account at Key Bank.  Advantis Credit Union also offers HSA accounts, as does the online bank www.hsabank.com   

   Each year there are contribution levels that limit how much you can contribute to our account.  If only one person has a bronze plan for 2026, then you are limited to the 'Single' limits.  If more than one person has a bronze plan, then you can contribute the higher 'family' limit.    

Click here to view IRS contribution guidelines at www.hsabank.com 

   For 2026 the HSA Limits are increasing to $4400 for self-only coverage  and $8750 for family coverage (more than 1 person enrolled)   Those 55 and older can contribute an additional $1000 as a catch-up contribution.   If you and your spouse contribute the $1000 catch-up contributions, they must be in separate HSA accounts.   I always recommend couples have separate HSA accounts.

PRACTICAL: SO HOW DO I USE AN HSA ACCOUNT?

    Once you open an account and put some money in to start, they give you a debit/visa card.  I just use this to pay for any out of pocket medical, dental, vision, pharmacy, or alternative care provider.  If you forget to use the card, you can later reimburse yourself from your account for eligible expenses.  You can learn what expenses you can use this account for at:    

http://www.hsabank.com/hsabank/learning-center/irs-qualified-medical-expenses

If I make a contribution and do not use it, do I lose it?

     No.  The money is your and it rolls over to the next year.  The money goes in tax-free, and when you withdraw it for medical, dental, vision, alternative care and prescription drug expenses, the money is tax-free coming out (see the tax code for full detailed list).  I'm not a tax consultant, you can read all about the HSA account at:  Click on the 'Learning Center' tab on the web site.  However, you can only contribute money to your HSA bank account if you have an eligible HSA-eligible medical plan that year.

 http://www.hsabank.com/hsabank/learning-center/health-savings-accounts

Disclaimer:  HSA information rules are subject to change.  Please consult your tax advisor regarding HSA tax consequences, or the bank you intend to put your HSA money with.   I am only competent to advise you on the medical portion of the plan. 

Page updated 11/10/2025