HSA
I worked 3 months for a company that allowed an HSA for myself and spouse. I moved and changed jobs and the new HSA is only allowed for myself. What is my allowable contribution for 2024 and which HSA do I use if I can add money to it?
Answers
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Hi,
The Family plan and it's limits ended with that job. Your new Self Only plan is the current plan and you are limited by its limits. When you have a family plan, the contributions are treated as if made by each separate spouse. However, It is possible that you could have excess contributions when you file your return for 2024. The IRS publication 969 doesn't appear to answer this question in detail.
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Hi Davef,
In 2024, the individual limit is $4150 for an HSA. The family coverage limit is $8300.
Generally, you'd contribute at the family level rate of coverage for the time period you were at your employer with this plan. Then when you started with your new employer you'd contribute to the new plan at the individual rate of coverage.
Please use this link here and scroll down to Limit on Contributions.
Here's the link for the worksheet in the instructions for Form 8889 you might need.
Your prior HSA is yours to keep. You can use it, or not, at any time in the coming years. Your spouse could only use the HSA where previously covered for medical expense reimbursement.
