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HSA question
Old 05-12-2018, 08:47 AM   #1
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HSA question

I am a year and a half younger than my wife. Can I contribute the full family amount of 7850 to my HSA when she turns 65? I suppose I could the full amount prior to her birthday in July. Then what happens the following year when she is already 65 and medicare and I am still only 64?
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Old 05-12-2018, 09:02 AM   #2
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i am a year and a half younger than my wife. Can i contribute the full family amount of 7850 to my hsa when she turns 65? I suppose i could the full amount prior to her birthday in july. Then what happens the following year when she is already 65 and medicare and i am still only 64?
you can only contribute and deduct on your taxes contributions for your wife prorated for the six months prior to her 65 birthday. Following that you can continue to contribute your full amount. The year that you turn 65 you will be under the same restrictions.
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Old 05-12-2018, 09:39 AM   #3
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you can only contribute and deduct on your taxes contributions for your wife prorated for the six months prior to her 65 birthday. Following that you can continue to contribute your full amount. The year that you turn 65 you will be under the same restrictions.
So, if I am reading this correctly I can contribute in 2018 the full 3450 for myself and then if I divide 3400 x 12 = 283.33 for her......it would be 283.33 x 5 months prior to her bday or 1416. So 1416 + 3450= 4866. Is this correct.
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Old 05-12-2018, 10:10 AM   #4
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I am a year and a half younger than my wife. Can I contribute the full family amount of 7850 to my HSA ...
BTW, 2018 family limit was recently returned to 7900 (after age 50), by the IRS.
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Old 05-12-2018, 10:12 AM   #5
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That is correct. I'm assuming she's in a HDHP now. Once she moves to Medicare she is considered to be in a low deductible plan and doesn't qualify. However you can still use the money accumulated to cover copy's and out of pocket costs.
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Old 05-12-2018, 04:23 PM   #6
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That is correct. I'm assuming she's in a HDHP now. Once she moves to Medicare she is considered to be in a low deductible plan and doesn't qualify. However you can still use the money accumulated to cover copy's and out of pocket costs.
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Old 05-16-2018, 03:51 PM   #7
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Has anybody used the HSA Authority by Old National Bank. I am considering opening an account with them.
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