As a member of myHSA, you might wonder if your adult child or dependent, who is a university or college student, can be considered a dependent under your Health Spending Account (HSA). The good news is, they can! Here's how.
Criteria for Dependent Eligibility
Under myHSA, a dependent is defined as:
The employee's spouse: This includes those legally married or in a common-law relationship.
Relatives by blood, marriage (step-children), or adoption: They must live in the same primary residence as the employee.
Financially reliant individuals: Dependents who are not spouses must rely financially on the employee.
Importantly, there is no age limit for dependents as long as they meet the above criteria.
Special Consideration for Students
For university or college students, the "living in the same primary residence" caveat can be a bit confusing. It's important to note that this does not exclude students living on campus. If your child is attending university or college and living in campus housing, they can still qualify as your dependent under myHSA! As long as the following is true:
Their mail is sent to your primary residence.
Their driver's license lists your primary residence as their address.
This ensures that even though they are physically away for their studies, they are still considered to be part of your household for HSA purposes.
For Example...
Imagine your child is attending university in another city. They live in a dormitory during the school year but returns home during breaks. All official documents, such as their driver's license and university mail, list your home as their address. They are still financially reliant on you for tuition, housing, and other expenses. Under these circumstances, they qualifies as your dependent under your HSA.
Understanding dependent eligibility under myHSA can provide significant benefits for families with adult children in university or college. Especially with how expensive this time can be for families! By ensuring your child meets the criteria outlined—being related by blood, marriage (step-children), or adoption, living in the same primary residence on record, and being financially reliant on you—you can confidently include them as a dependent under your HSA, even if they live on campus during the school year.
Questions? Reach out to support@getmyhsa.com by email, or open a live chat and we'd be happy to help you out!