@gh85renn wrote:
Thank you, Opus 17:
It's all so confusing. $6,100 was my 'assumption' before I started asking all the questions. LOL. Thank You so much. I'm good to go! I was getting different answers from different sources. Have a Great Day!
You have to look at this as two different transactions with different rules. One transaction takes money out of the the IRA, and the other transaction puts money into the HSA. Under the IRA rules, you can take $8100 out, but under the HSA rules, anything more than $6099 will be excess by the time the end of the year rolls around, under the facts as you state them.
I should also mention that $8100 would be your allowable contribution to the HSA if you did not change your HDHP. If you kept your spouse covered under a family HDHP (where presumably, the HDHP might provide coverage in the gaps that Medicare does not) then your limit will still be $8100. Your limit is not affected by your spouse's secondary coverage, although your spouse's HSA limit certainly is affected by their secondary coverage. Presumably, you save more money by switching to a single HDHP than you would benefit from a maximum HSA contribution.
