HSA question

[ripper1]

My wife turned 65 in early July of this year. I am a bit confused as to what her total HSA contribution would be this year. The max per individual for 2019 will be 3500. So I see she is eligible for the first 6 months for contributions which would be 1750. Now does she also get the full 1000 catch up contribution or is it 500 for half the year?

 

[MichaelB]

My wife turned 65 in early July of this year. I am a bit confused as to what her total HSA contribution would be this year. The max per individual for 2019 will be 3500. So I see she is eligible for the first 6 months for contributions which would be 1750. Now does she also get the full 1000 catch up contribution or is it 500 for half the year?

Sorry, the catch up contribution is also prorated and she only gets half.

 

[candrew]

My wife turned 65 in early July of this year. I am a bit confused as to what her total HSA contribution would be this year. The max per individual for 2019 will be 3500. So I see she is eligible for the first 6 months for contributions which would be 1750. Now does she also get the full 1000 catch up contribution or is it 500 for half the year?

Sorry, the catch up contribution is also prorated and she only gets half.

Assuming that she has enrolled Medicare. If your DW is not enrolled in Medicare and otherwise HSA eligible, she can continue to contribute to an HSA after age 65. She is also allowed to contribute the $1,000 catch-up.

 

[ripper1]

Yeah, she is enrolled. Thanks folks. Anyway I have one more full year to participate. These HSA's are great investment vehicles. Unfortunately I was only offered one of these through ACA three years ago.

 

[candrew]

Anyway I have one more full year to participate. These HSA's are great investment vehicles.

+1

DW will be starting on Medicare next January. She is going to use some of her accumulated HSA funds to pay Medicare premiums. I still have a few years to go yet before Medicare enrollment.