How much can I contribute to HSA if I only have HSA eligible health insurance policy for partial year of 2023

[sunshineInTheRain]

I was covered by HSA eligible insurance plan for 5 months in 2023 before I got laid off. I was wondering what is the max amount I can contribute to my HSA for the year of 2023? Thanks!

[BillM223]

First, we have to know the type of HDHP policy you had: Self or Family.

Second, did you have this HDHP coverage on December 1, 2023? (yes, it makes a difference)

Third, are you 55+?

[sunshineInTheRain]

First, we have to know the type of HDHP policy you had: Self or Family.

>> Self

Second, did you have this HDHP coverage on December 1, 2023? (yes, it makes a difference)

>> I had an HDHP (not HSA eligible) for Jun to Sep,  and had a high deductable travel medical insurance plan for Oct, Nov, and Dec as I was traveling out of the country at that time.

Third, are you 55+?

>> No, I am below 55

[BillM223]

"I had an HDHP (not HSA eligible) for Jun to Sep"  - What does this mean? How is an HDHP policy not HSA eligible?

"had a high deductable travel medical insurance plan for Oct, Nov, and Dec as I was traveling out of the country at that time" - What does this mean? Did the insurance company actually list it as an HDHP, or are you just looking at the premiums? And most travel insurance does not qualify for medical insurance in the US, so please tell me more about it.

[sunshineInTheRain]

"I had an HDHP (not HSA eligible) for Jun to Sep"  - What does this mean? How is an HDHP policy not HSA eligible?  

>> The insurance I bought is from a private company(Clearwater or clearshare) and the deductable was $3000, so I think it is an HDHP. It does not have HSA option, the same insurance company provides a different policy which is HSA eligible, but it is more expensive than the policy I picked.

"had a high deductable travel medical insurance plan for Oct, Nov, and Dec as I was traveling out of the country at that time" - What does this mean? Did the insurance company actually list it as an HDHP, or are you just looking at the premiums? And most travel insurance does not qualify for medical insurance in the US, so please tell me more about it.

>> I bought the the travel insurance from Trawick, and my policy had a deductible of $2500. I though HDHP just means the deductible is high?

[BillM223]

No, there is more to being an HDHP policy than the size of the deductibles. You must ask the insurance carrier if this policy is an HDHP policy.

Taxpayers really aren't in a position to judge the fine print on whether a policy if a IRS-approved HDHP policy. In both cases, you have to contact the carriers and ask.