Confusing myself over HSA contribution limits.

[rodi]

I've managed to mess up my HSA contributions every year... No matter how many times I read the rules... probably because we are an atypical situation.

DH is on medicare. Doesn't qualify for HSA.
I am on a HDHP HSA-qualified plan.
My two sons (minors) are on the same HDHP HSA qualified plan.

I am over 55.

Last year I thought I did everything proper but Quicken said I over contributed... perhaps because of the 55 catch up combined with a family policy.

What is the max we can contribute.... A family with 1 person who doesn't qualify and has separate insurance, 1 person who qualifies... and 2 kids.

Thanks. Hoping the brilliant forum members here can figure it out because we're going through something expensive medically and I need to get this maxed out properly.

 

[MichaelB]

The family policy allows you to contribute $6850, and you get an additional $1000 for being middle-aged.


What did Quicken say?

 

[MBSC]

$7,900 for 2018.

Since the HSA eligible HDHP is a family plan, the family contribution limit of $6,900 applies. It was temporarily reduced to $6,850 earlier in the year but reset to $6,900 later (link).

You can make an additional $1,000 catch-up contribution to your HSA account for a total of $7,900. DH is not eligible to make a catch-up contribution.

The limit will be $8,000 ($7,000+$1,000) in 2019 assuming the same scenario.

Reference: https://www.shrm.org/ResourcesAndTo...19-HSA-Contribution-Limits-Rise-IRS-Says.aspx

 

[MichaelB]

It was temporarily reduced to $6,850 earlier in the year but reset to $6,900 later.

When was the reset?

 

[Cobra9777]

For 2018, I think the answer is $7900. ($6900 family, plus one $1000 catch-up). Your husband doesn't affect the eligibility for the "family" contribution. My understanding is "family" can be as little as one qualifying parent and one child. But only you qualify for the $1000 over-55 catch-up.

 

[Cobra9777]

When was the reset?

April 26

IRS link

 

[MichaelB]

The $7900 looks correct given the reset.

 

[rodi]

Thanks all.