Can a Family Have Two HSA Accounts?
Understand how individual HSA eligibility impacts families and navigate managing multiple healthcare savings accounts for your household.
Health Savings Accounts (HSAs) offer a tax-advantaged way to save and pay for healthcare expenses. Paired with specific health insurance plans, HSAs provide financial benefits. Many families wonder if they can maintain more than one HSA.
HSA Eligibility Requirements
To qualify for an HSA, an individual must be covered under a High Deductible Health Plan (HDHP) and generally have no other health coverage. For 2025, an HDHP must have a minimum annual deductible of $1,650 for self-only coverage or $3,300 for family coverage. Annual out-of-pocket expenses, including deductibles and co-payments but not premiums, cannot exceed $8,300 for self-only coverage or $16,600 for family coverage.
Certain other health coverages can disqualify an individual from HSA eligibility. This includes Medicare enrollment or other non-HDHP health insurance. Participation in a health Flexible Spending Arrangement (FSA) or Health Reimbursement Arrangement (HRA) can also disqualify an individual, unless these are limited-purpose FSAs/HRAs. An individual also cannot be claimed as a dependent on someone else’s tax return.
Family Coverage and Individual HSAs
While health insurance plans can cover a family, HSA eligibility is determined individually. Each spouse meeting the requirements can establish and contribute to their own separate HSA, even if both are covered under the same family HDHP. There is no joint HSA; each account is held by an individual. Thus, a family under a single HDHP can have two HSAs if both spouses meet individual eligibility.
Even if only one spouse has an HSA, funds can cover qualified medical expenses for the account holder, their spouse, and any tax dependents. If one spouse is ineligible for an HSA, for example, due to Medicare enrollment or other disqualifying coverage, only the eligible spouse can contribute.
Contribution Limits for Families
The Internal Revenue Service (IRS) sets annual HSA contribution limits, applying to both individual and family coverage. For 2025, the maximum annual contribution for self-only HDHP coverage is $4,300, while family HDHP coverage allows up to $8,550. These limits encompass contributions from both the individual and their employer.
When both spouses have an HSA under a family HDHP, they share the single family contribution limit. They can allocate the total family limit between their two individual HSAs in any manner, as long as their combined contributions do not exceed the annual family maximum. For example, if the family limit is $8,550, one spouse could contribute $6,000 to their HSA and the other $2,550.
Individuals aged 55 and older are eligible to make an additional catch-up contribution of $1,000 to their HSA each year. If both spouses are age 55 or older and meet eligibility, each spouse can contribute this additional $1,000 to their respective HSA. These catch-up contributions are added on top of the standard family limit, increasing the total amount a family can save for healthcare.
Managing Multiple HSAs
Having two HSAs within a family can offer benefits such as individual control over funds and easier tracking of personal healthcare expenses. Each spouse can manage their own account, including investment decisions, which can be advantageous for long-term savings. This separation can simplify financial planning for couples who prefer distinct financial management.
When a family has multiple HSAs, any qualified medical expenses for any eligible family member can be paid from either spouse’s HSA. This provides flexibility in managing cash flow. For tax reporting, the HSA custodian or trustee issues Form 5498-SA, reporting contributions, and Form 1099-SA, reporting distributions. These forms are sent to the account holder and the IRS, and individuals should retain them for their tax records.