The One Big Beautiful Bill Act (OBBBA) expands access to Health Savings Accounts (HSAs), opening the door for millions more Americans to take advantage of these tax-advantaged savings. Key changes include allowing certain exchange-based health plans, direct primary care memberships, and telehealth coverage to qualify for HSAs, giving people more flexibility and opportunities to grow their health care savings.
As highlighted in a recent article, Cat Torres explains that the law removes restrictions that previously kept some exchange-based Bronze and Catastrophic plans from qualifying for HSAs. This means millions of marketplace plan holders can now open and fund HSAs, though she doesn’t expect a mass shift away from employer-sponsored plans. “We might see an increase in non-employer-sponsored HSAs,” she noted, emphasizing that the biggest impact will likely be outside of workplace coverage.
Despite these improvements, significant gaps remain. Seniors on Medicare, active-duty military members on TRICARE, veterans using VA health care, and individuals relying on Indian Health Services are still excluded from HSA eligibility. Torres calls this a “huge miss” and stresses that these four groups—together representing tens of millions of Americans—should be the focus for future expansion.
Interested in learning more? Check out the full Financial Planning article or watch our recent webinar.
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