If you are not covered under the HDHP, you cannot make the maximum contribution to your HSA. If your coverage ends at the end of February, you are only eligible for 2/12 of the maximum family contribution. Your wife on the other hand, would be eligible for the maximum contribution to a Family HSA (less any amount you contributed to an HSA) if she and your children are covered all year by an HDHP. If you choose to be covered under the HDHP, you will have to withdraw 10/12 of the maximum HSA contribution for a family plan. You wife can then open an HSA and contribute the same amount to her HSA.
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