- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
Can I open my own HSA and contribute the family limit if I was covered by parents HDHP but am not a dependent on their tax returns?
Accepted Solutions
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
Can I open my own HSA and contribute the family limit if I was covered by parents HDHP but am not a dependent on their tax returns?
An HSA can be established for any individual that meets all of the following:
- is covered by a high deductible health plan
- is not covered by another health plan
- is not eligible to be claimed as a dependent on another person’s tax return
- is not entitled to Medicare benefits
https://www.hsaresources.com/faq/#opening-01
If such an individual has family HDHP coverage, he can contribute to his HSA up to the family limit.
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
Can I open my own HSA and contribute the family limit if I was covered by parents HDHP but am not a dependent on their tax returns?
An HSA can be established for any individual that meets all of the following:
- is covered by a high deductible health plan
- is not covered by another health plan
- is not eligible to be claimed as a dependent on another person’s tax return
- is not entitled to Medicare benefits
https://www.hsaresources.com/faq/#opening-01
If such an individual has family HDHP coverage, he can contribute to his HSA up to the family limit.
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
Can I open my own HSA and contribute the family limit if I was covered by parents HDHP but am not a dependent on their tax returns?
I don't know offhand, but I know enough to pull the Form 8889 instructions: https://www.irs.gov/pub/irs-pdf/i8889.pdf
Look at lines 3 and 6, it appears the straightforward answer is "no": "When figuring the amount to enter online 3, apply the following rules.
I don't see any pathway where you can split the higher family limit to your HSA beyond the individual limit without being a spouse with HDHP family coverage.
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
Can I open my own HSA and contribute the family limit if I was covered by parents HDHP but am not a dependent on their tax returns?
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
Can I open my own HSA and contribute the family limit if I was covered by parents HDHP but am not a dependent on their tax returns?
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content