Hi,
I am seeking verification that I fully understand the rules around H.S.A. contributions given this scenario:
I am over 65 years old but still working. I have a Family HDHP with my employer, and I, and my employer, both contribute to my HSA the maximum allowed annually for Family HDHP coverage. Additionally, I also make the 1K catch-up contribution.
My wife is covered by my workplace health insurance, but she just retired and will file for Social Security benefits soon. Of course, this means that she will automatically be enrolled in Medicare Part A. She will not enroll in Medicare Part B as she will continue to be covered under my workplace health plan. Also, my wife does not have her own HSA.
So, two questions:
- Do I need to stop contributing to my HSA before my wife is covered by Medicare Part A (probably by September 2024)?
- Should I change my HSA contributions for 2025 at my annual benefits enrollment period in November of this year from the current Family HDHP contribution level to an individual contribution level?
Based on what I have read in this forum and elsewhere, I should be able to continue to contribute the maximum amount allowable for family coverage to my HSA, as I am the 'owner' of the HSA account.
Thanks for any feedback, appreciate all responses
