Can I contribute to my new job's HSA?

Forum|Forum|7 years ago
June 3, 2019
2 replies
16 views

I changed jobs April 2018 and I had a HSA at my old company. My employer made my full contribution available at the beginning of the year ($3,450; just me covered). I submitted medical expenses which were paid for the full $3,450 before I left the company but only contributed $1,062 through payroll deductions. HSA balance is $0. I'm now at my new job and they offer a plan with an HSA. Can I setup a new HSA and contribute $2,388?

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dmertz

Level 15

You've already contributed (had contributed on your behalf) the full $3,450 that you are permitted for 2018, so you are not permitted to contribute any more to an HSA for 2018.

If the old employer reports only $1,062 with code W in box 12 of your W-2 from them instead of $3,450, you'll have to claim the $2,388 as a personal HSA contribution. If the employer does not require you to pay back to them the $2,388, the employer should include the $2,388 as part of your compensation for the year.

dmertz

Level 15

Note that to be an individual eligible for the entire $3,450 already contributed for 2018, you must be an HSA-eligible individual on December 1, 2018. If you choose a plan at your new employer that does not otherwise meet the requirements for being eligible to make an HSA contribution, you will have an excess HSA contribution for 2018.