We are a MFJ couple and We just had our first child on 1/15/23. My wife's health insurance plan is low cost non HSA qualifying one but since the coverage to a nearby large hospital is great, we are planning to enroll myself (husband) and our newborn to the same plan provided by her employer
So far I have maintained my own health plan HSA/PPO coverage one as single person where I was able to make contributions to my HSA account and my employer made a minor contribution as well.
Question I am trying to assess is:
We want to enroll in my wife's insurance as that is low cost and has great coverage in area where we live but at the same time I want to take advantage of HSA contribution.
I have below option from my employer:
A. Employee only:
B. Employee + Spouse
C. Employee+ Child(ren)
D. Employee+ Family
My employer makes some contribution to the above options and mathematically option C turns out to be better as the amount of coverage I get from employer vs the per paycheck premium/ deduction I have to pay is better that B and D.
Is there a way where I can enroll in my wife's plan and at the same time qualify to make contributions to HSA to highest level possible.
Almost all the time we will use the nearby hospital (hence my wife's insurance) so answer potentially is as simple as why even bother about HSA and coverage that my (husband's) employer provides as we'll hopefully not use that. But I am just trying to make sure I am able to put some money aside in HSA for future needs
