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Level 2
posted Dec 15, 2022 6:19:31 AM

HSA Contributions

My wife is eligible to contribute to an HSA as she is covered by a high deductible cobra plan.  She will be covered by Medicare as of June 2023, the month she turns 65.  Is she eligible for HSA contributions through May 2023?

0 4 595
4 Replies
Level 15
Dec 15, 2022 7:21:25 AM
Level 2
Dec 15, 2022 7:26:15 AM

Thank you. Other than pro rating by the number of months eligible, are there any other limits 

Level 15
Dec 15, 2022 7:39:41 AM

nope

Level 15
Dec 15, 2022 9:08:57 AM

@crevitch simply, the maximum contribution she can make is 5/12 * $4850 (I am assuming Single +1000 for being over 55), so that is $2020 (you need to round down)  that is her 2023 limit. 

 

it doesn't have to be contributed by May, it can be paid as late as April 15, 2024 (tax filing deadline)