BillM223
Expert Alumni

Get your taxes done using TurboTax

Yep, that's it. There are many situations that the IRS has not directly addressed, but since there is the concept of a "virtual HSA" (my term, not the IRS's), this will simplify things. Otherwise, you would have to be explaining why you made a contribution to the new HSA but withdrawing the excess from the old HSA.

 

Note: the HSAs and the HDHP are not tied together. That is, now that your spouse is under a new HDHP policy, it would have been OK to just keep using the old HSA and not make a new one. But employers often prefer to help you create one because they will be the ones will be sending money to it. And, yes, once you have recalculated everything so that you have it down to the dollar and emptied the old HSA, you can then close the old HSA and just use the new one.

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