- Joined
- Sep 10, 2006
- Messages
- 4,089
Hello all.
Both DH and I officially retired 12/31/2019 (Woo-hoo!). We signed up for an ACA policy that is HSA compliant (BlueOptions Bronze (HSA) 1705).
The policy is in my name. I would like to fund the HSA now. We already have an HSA in DH's name, as before retiring we had an HSA policy through his employer.
I'm probably going to open a new HSA account with a different provider (our current one is with HSA Administrators, and the fees are high).
Questions:
1. If we do open a new account, say, with Fidelity, does it need to be in my name since the HSA insurance is in my name? If so, can we still do the extra $1K catchup contribution for DH since he is over 55?
2. If we want to eventually transfer our HSA policy from HSA admin to Fidelity, would it make more sense to open the Fidelity policy in DH's name? Can we open it in his name even though the HSA insurance is under my name?
3. Are there any other options I should be considering? Should we each have a separate HSA? Does that somehow help with both us being eligible for the extra $1K contribution once I turn 55? I think I recall someone doing that on here...?
Thanks for any help!
Both DH and I officially retired 12/31/2019 (Woo-hoo!). We signed up for an ACA policy that is HSA compliant (BlueOptions Bronze (HSA) 1705).
The policy is in my name. I would like to fund the HSA now. We already have an HSA in DH's name, as before retiring we had an HSA policy through his employer.
I'm probably going to open a new HSA account with a different provider (our current one is with HSA Administrators, and the fees are high).
Questions:
1. If we do open a new account, say, with Fidelity, does it need to be in my name since the HSA insurance is in my name? If so, can we still do the extra $1K catchup contribution for DH since he is over 55?
2. If we want to eventually transfer our HSA policy from HSA admin to Fidelity, would it make more sense to open the Fidelity policy in DH's name? Can we open it in his name even though the HSA insurance is under my name?
3. Are there any other options I should be considering? Should we each have a separate HSA? Does that somehow help with both us being eligible for the extra $1K contribution once I turn 55? I think I recall someone doing that on here...?
Thanks for any help!