My wife and I work for the same company and we have two kids. Instead of choosing the family HSA plan, can we each choose an employee+1 plan and make $7K contribution?

[BWstat]

Employee contribution for family and employee+1 are $1800 and $900, per year, respectively. So the cost is the same if we choose family or two E+1 plans.

However, family plan allow total contribution up to $7K to HSA account. But if we each choose an E+1 plan and cover one of our kids, I assume we can put aside $14K to HSA all together. Am I right?

[Opus 17]

Your maximum contribution as a married couple for 2019 is $7000, even if you are enrolled in separate insurance plans.  Plus $1000 per spouse if you are 55 or older. 

[Critter]

Thanks for the updated figures for 2019.

[BWstat]

Thanks!

[Critter]

Wrong ... you will have excess contributions ... max allowed for 2018 is 6,900 (7,100 if over 55). 

The annual HSA contribution limit is $6,900 for those covered under qualifying family medical plans (up from $6,750 in 2017). But if you're 55 or older in 2018, you can contribute an additional $1,000, or total of $4,450 to an HSA for singles and $7,900 for families per year.

IRS allows higher retirement savings account limits for 2018 - CBS News https://www.cbsnews.com/news/irs-allows-higher-retirement-savings-account-limits-in-2018/

https://www.cbsnews.com/.../irs-allows-higher-retirement-savings-account-limits-in-2018...

[dmertz]

With regard to HSA contributions, any HDHP that covers more than one person is a family plan.  Your combined contribution limit is the same no matter which of the insurance options you choose from those you mentioned.  You and your spouse will each be covered by a family plan (per the HSA-related definition) either way.

[dmertz]

The amount of $7,100 mentioned in the answer is incorrect.  The catch-up contribution is $1,000 to the HSA of an individual who is age 55 or older.  If both spouses with family coverage are over age 55, the total permissible contribution would be $8,900 split between the two spouses' HSA accounts with no less than $1,000 to each spouse's HSA account.

[Critter]

Good catch.   It would seem that you would be best served by getting just ONE family plan so you don't have to juggle 2 plans or accidentally have too much contributed to the HSA ... if you rely on the employer to put in the correct amount there could be issued.

[dmertz]

Good point regarding relying on the employer to enforce the limits.  However, it's ultimately the taxpayer's responsibility, not the employer's responsibility, to comply with the limits.  Even with a single plan covering all involved, HSA contributions can be split between separate HSAs for each spouse if desired, even if the contribution amounts are taken from only one spouse's pay.