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Eligibility for the AARP® Health Savings Account offered by Optum Bank® 

In addition to being a current member of AARP, you must meet the following requirements, as defined by the IRS:

  • You must be covered under a qualifying high-deductible health plan (HDHP) on the first day of the month.
  • You have no other health coverage except what is permitted by the IRS.
  • You are not enrolled in Medicare, TRICARE or TRICARE for Life.
  • You can’t be claimed as a dependent on someone else’s tax return.
  • You haven’t received Veterans Affairs (VA) benefits within the past three months, except for preventive care. If you have a disability rating from the VA, this exclusion doesn’t apply.
  • You do not have a health care flexible spending account (FSA) or health reimbursement account (HRA). Alternative plan designs, such as a limited-purpose FSA or HRA, might be permitted.

Other restrictions and exceptions may also apply. We recommend that you consult a tax, legal or financial advisor to discuss your personal circumstances.

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What is a high-deductible health plan?

The IRS defines a qualifying high-deductible health plan as having:


  • A minimum annual deductible of $1,350 individual/$2,700 family
  • An out-of-pocket maximum of $6,750 individual/$13,500 family


  • A minimum annual deductible of $1,350 individual/$2,700 family
  • An out-of-pocket maximum of $6,650 individual/$13,300 family
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Advantages of the AARP® Health Savings Account offered by Optum Bank®

  • Low or no monthly maintenance fees
    • Get an exclusive 20 percent discount off monthly maintenance fees or waived monthly fees for account holders 65 and older.
  • Discounts
    • Use your HSA debit card at Walgreens to earn a 3 percent discount on eligible non-prescription purchases.
  • Simplified payments
    • Make personal and medical purchases using just one card. Store payment and health account information, then let Optum Wallet™ technology determine the right method of payment for your purchase.
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Coverage of adult children

Health care reform legislation passed in 2010 allows adult children up to age 26 to be covered by parents’ health plans, including high-deductible plans.

The tax laws regarding HSAs have not changed, however an adult child must still be considered a tax dependent in order for his or her medical expenses to qualify for payment or reimbursement from a parent’s HSA.

If you are under age 26 and covered by a parent’s HSA-eligible, high-deductible health plan, you may be able to open and fund an HSA yourself and can contribute up to the IRS family maximum. The criteria above still apply. Consult a knowledgeable benefits consultant or tax advisor.

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