According to the IRS, you are only allowed to contribute to a Health Savings Account if your current health insurance is a high-deductible plan. Currently, the minimum requirement for the deductible is $1,350 for self-only and $2,700 for family coverage.

Why does the law have this requirement? I know a lot of employers will contribute a certain amount to the HSA, to try and incentivize their employees to choose the higher deductible (and therefore lower cost) plans. Why does the IRS care which insurance plan I choose? If the point of HSA plans (like a 401k) is to encourage people to save their money, then why limit HSA contributions to only HDHP plans?

According to the IRS, you are only allowed to contribute to a Health Savings Account if your current health insurance is a high-deductible plan. Currently, the minimum requirement for the deductible is $1,350 for self-only and $2,700 for family coverage.

Why does the law have this requirement? I know a lot of employers will contribute a certain amount to the HSA, to try and incentivize their employees to choose the higher deductible (and therefore lower cost) plans. Why does the Federal Government care which insurance plan I choose? If the point of HSA plans (like a 401k) is to encourage people to save their money, then why limit HSA contributions to only HDHP plans?