I did talk to our medical insurer, and after I left them, because of my Medicare eligibility starting Oct 1, 2021, the policy was solely in her name. It is a High deductible policy, HSA eligible. So, the question: How much can she contribute for three months of eligibility, and being 63 years old, does she get a full year of catch up contributions ($1000), or is that pro-rated for 3/12 months, so $250.
Also, I, on incorrect advice, early in 2021 made my contribution as if I would have 12 months of eligibility. So far, I have not asked the custodian of the HSA to refund the overage. I understand that there is a penalty of 6% of the overage. If it is that little, it would seem like a smart move to leave the money there in the HSA...as it gives me many of the benefits of a ROTH IRA. 6% seems a cheap cost of entry. Correct thinking?
Does my wife's eligibility for the partial year have anything to do with whether or not I ask for my overpayment back from the HSA custodian?
