topic HSA in Deductions & credits

HSA

ggsc2018hh — Wed, 08 Jan 2020 16:51:06 GMT

am self employed. can spouse contribute to my HSA or does she need her own. no payroll deduction here since both self employed. thnx

Re: HSA

dmertz — Wed, 08 Jan 2020 18:17:13 GMT

HSAs are individual accounts. It doesn't matter who makes the deposit, any money someone puts into your HSA is your contribution, not theirs. For any individual to make a contribution, the contribution must be made to that individual's HSA.

Re: HSA

Anonymous — Wed, 08 Jan 2020 18:47:54 GMT

eligibility requirements for HSA

1) must be covered by HDHP

2) may not be covered by any non-HDCP - insurance for only dental or vision coverage is ignored

3) can't be enrolled in medicare

self-employed

an eligible individual or any person including family member may contribute to that individual's HSA

Married couples.

if either spouse has family coverage both are treated as having family coverage.

if family coverage the maximum allowed contribution can be made to one account or both spouses may have their own a/c with the maximum contribution split anyway they desire. each spouse that has an HSA a/c must file form 8889. even if you choose separate a/c's, the money in the account can be used to pay the qualified medical expenses of the account beneficiary, their spouse or dependents.

if neither has family coverage and both are covered by HDHP, each must have their own HSA.

Re: HSA

john1105 — Fri, 14 Feb 2020 02:47:08 GMT

So if I have a HSA and I'm covered by a self-only high deductible plan and my wife has her own non-high deductible plan for her and our daughter, we can contribute the entire $8,000 (I'm over age 55) to my HSA in 2019?

Re: HSA

Anonymous — Fri, 14 Feb 2020 03:06:18 GMT

you can only contribute $4,500 to your HSA for 2019. the reason, you have self only coverage. the rest of your family is not covered by a high deductible plan