Ten FAQs of Young Adult HSA
1. What is an HAS, and why it is considered to have a "triple tax advantage"?
2. What is the age of my child who is eligible for HSA contribution?
3. If I am under 26 and still covered under my parents' health plan, can I open and fund my own HSA?
4. If I am young and rarely go to the doctor, why would I need an HSA?
5. What everyday healthcare products qualify as eligible HSA expenses beyond doctor visits?
6. Can I invest the money in my HSA into stocks and index funds, or does it have to sit in cash?
7. What is the preferred brokerage HSA account?
8. What is the difference between an HSA and an FSA, and will I lose my unspent funds at the end of the year?
9.How much can I, a college student, contribute to an HSA each year, if I don’t have enough earned income?
10. If my child (18-26) has his or her HSA, should my child file his or her own tax return 1040? Or can I still claim my child as a dependent in my parental tax return?