BillM223
Expert Alumni

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"The question was will I withdraw anything for 2023 now?"

 

The HSA is persistent, that is, it is not like FSAs that expire at the end of the year, rather an HSA is like an IRA in that dollars can be taken years later if desired. So if you meant to ask if you can spend dollars contributed in 2023 on medical expenses in 2025, the answer is "yes".

 

However, if you meant "withdraw" in the sense of "withdraw excess contributions", no, it is no longer possible to withdraw (penalty free) excess contributions for tax year 2023, because this needed to be done by April 15, 2024.

 

"Employer contribution for 2024 is 500$. Or can i contribute the prorated difference in 2024."

 

The annual HSA contribution limit is calculated on, among other things, the number of months that you have HDHP coverage. The maximum amount of HSA contributions that you can make for 2024 is your HDHP coverage (Family or Self) times 5 divided by 12. So you can add whatever will be less than that limit when added to the employer's $500.

 

 "The prorated amount when I did not have HDHP coverage has been added to 2024 income."

 

I'm sorry, I don't know what this means. Are you talking about HSA contributions declared to be in excess?

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