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My wife has a high deductible health plan with a health saving account which I am covered under and as I go on Medicare can she contribute the family amount year to year?

 
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Accepted Solutions
Anonymous
Not applicable

My wife has a high deductible health plan with a health saving account which I am covered under and as I go on Medicare can she contribute the family amount year to year?

Under section 223, the amount of the maximum HSA contribution deduction in the year

an individual reaches age 65 is prorated based on the number of months that the

individual is an eligible individual. In particular, the maximum contribution is based on

the number of months that the person in not enrolled in Medicare. 


example if he goes on Medicare in June 2019 you can contribute 

the maximum family contribution divided by 12 and multiplied by 5 = 7000/12*5=2916.67 plus

$1000  catch up prorated for 5 months  = 1000/12*5=416.67 plus 

the maximum self-only contribution  divided by 12 and multiplied by 7 =  3500/12*7=2041.67 plus

$1,000 if you are over 55

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2 Replies
Anonymous
Not applicable

My wife has a high deductible health plan with a health saving account which I am covered under and as I go on Medicare can she contribute the family amount year to year?

Under section 223, the amount of the maximum HSA contribution deduction in the year

an individual reaches age 65 is prorated based on the number of months that the

individual is an eligible individual. In particular, the maximum contribution is based on

the number of months that the person in not enrolled in Medicare. 


example if he goes on Medicare in June 2019 you can contribute 

the maximum family contribution divided by 12 and multiplied by 5 = 7000/12*5=2916.67 plus

$1000  catch up prorated for 5 months  = 1000/12*5=416.67 plus 

the maximum self-only contribution  divided by 12 and multiplied by 7 =  3500/12*7=2041.67 plus

$1,000 if you are over 55

dmertz
Level 15

My wife has a high deductible health plan with a health saving account which I am covered under and as I go on Medicare can she contribute the family amount year to year?

You being on Medicare prevents you yourself from being eligible to contribute to an HSA for those months that you are covered by Medicare, but you being covered by Medicare has no effect on your wife's eligibility to contribute to an HSA.  If the coverage remains family HSA coverage after you go on Medicare and she has no disqualifying coverage the entire year, she can still contribute up to the limit for having family HDHP coverage.  She can also make the individual catch-up contribution if she is age 55 or over.

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