@powe5477 wrote:
I am not covered for anything through my parents, FSA, HSA, or otherwise. Also, I cannot be claimed as a dependent in 2020, but was in 2019. So does this mean I can have an HSA with my job?
You must be enrolled in an HSA-eligible qualifying HDHP, and have no other insurance coverage. If this fits, then you can enroll in an HSA. You can open a private account at most banks or you can use an employer-sponsored plan and contribute via payroll deductions. The payroll deduction method saves you a little extra in taxes because it is exempt from social security and medicare withholding as well as income tax.
You can use the last month rule to contribute up to the maximum of $3550, even though you were only eligible starting June 1.
Incidentally, one more clarification. You must have an eligible HDHP to make contributions, but once the money is in the account, you can spend it for out of pocket medical costs any time you want no matter what kind of insurance you have.
