Question:

HSA with Golden Rule Plan 100?

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I was forced to switch health insurance policies and decided on Golden Rule's Plan 100 because it was the cheapest that offered benefits I needed. I was wondering if I can still keep and continue to make deposits in my HSA or does this plan disqualify me from it? If so, why?

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  1. You can keep the HSA you just can't make any more deposits. If you had the HSA less than 12 months you have to make sure you did not exceed the prorated contribution limits  for the number of months you had the plan.  (Even though you can deposit the entire annual contribution up front if you cancel the plan in less than 12 months you have to withdrawn the excess amount)

    In order to qualifiy for a HSA you have to have a Qualified High Deductible Health Plan (QHDHP). The Golden rule plan 100 is not a QHDHP.  

    To be a QHDHP the plan has to have a minimum deductible ($1,100 indiv, $2,200 Family) and can't have office visit co-pays.

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