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Can I Make A Deductible Contribution To My HSA?

Can I Make A Deductible Contribution To My HSA?

| February 13, 2019

HSA contribution rules seem pretty straightforward at first. However, the rules become complicated in years when there will be a change to coverage. Perhaps a client is moving from individual to family coverage, or they are leaving their health plan, or they are starting Medicare. It’s at those times that the HSA contribution rules can become confusing.

To help make the conversation easier, we have created the “Can I Make A Deductible Contribution To My HSA?” flowchart. It addresses some of the most common issues that arise for a client trying to contribute to an HSA. This flowchart considers:

  • The minimum deductible requirements for HDHP
  • The maximum out-of-pocket expense for HDHP
  • Contribution amounts
  • Impact if HDHP coverage starts or changes this year
  • Full Contribution Rule
  • HSA and Medicare coordination
  • Situations allowing for a pro-rata contribution

This article represents opinions of the authors and not those of their firm and are subject to change from time to time, and do not constitute a recommendation to purchase and sale any security nor to engage in any particular investment or legal strategy. The information contained here has been obtained from sources believed to be reliable but cannot be guaranteed for accuracy.