Comments on: HSA Contribution Limits And IRS Plan Guidelines https://thecollegeinvestor.com/20912/hsa-contribution-income-limits/ Navigating Money And Education Fri, 01 Nov 2024 20:55:31 +0000 hourly 1 By: Robert Farrington https://thecollegeinvestor.com/20912/hsa-contribution-income-limits/#comment-479150 Sat, 20 Jan 2024 20:41:14 +0000 https://thecollegeinvestor.com/?p=20912#comment-479150 In reply to John.

In most cases, an HSA cannot be used for private health insurance premiums. However, it can be used for:

  • COBRA premiums
  • Healthcare premiums while receiving unemployment compensation
  • Medicare premiums if you’re over age 65

    • Depending on your age and what you’re paying, you may actually have options here.

    ]]>         By: John https://thecollegeinvestor.com/20912/hsa-contribution-income-limits/#comment-479149 Sat, 20 Jan 2024 20:34:45 +0000 https://thecollegeinvestor.com/?p=20912#comment-479149 Before I retired from my job I was allowed to pay for the employee portion of my health insurance using pretax money through payroll.
    Now after retiring and self paying for retirees insurance, I am told I can’t use HSA funds to offset my premiums. I am confused as this seems like a double standard.

    ]]>         By: Robert Farrington https://thecollegeinvestor.com/20912/hsa-contribution-income-limits/#comment-475466 Tue, 10 Jan 2023 21:17:13 +0000 https://thecollegeinvestor.com/?p=20912#comment-475466 In reply to Alyssa.

    You can contribute to your 2022 contributions, up to the 2022 limit, all the way through April 18 this year.

    ]]>         By: Alyssa https://thecollegeinvestor.com/20912/hsa-contribution-income-limits/#comment-475461 Tue, 10 Jan 2023 19:04:31 +0000 https://thecollegeinvestor.com/?p=20912#comment-475461 I had a HDHP plan in CY 2022 that was HSA eligible. However, starting in CY 2023 I switched to a plan that is not HSA eligible. Can I still contribute money to my HSA account until April 15, 2023 and use it for future medical expenses as long as I mark the contribution as 2022 tax year? Or was that final date for me to contribute anything to the HSA account December 31, 2022 given that was the last day I had the HDHP HSA eligible plan?

    ]]>         By: Robert Farrington https://thecollegeinvestor.com/20912/hsa-contribution-income-limits/#comment-432301 Wed, 29 Apr 2020 20:21:34 +0000 https://thecollegeinvestor.com/?p=20912#comment-432301 In reply to Ariel Gross.

    Yes, your employer’s contributions count. And yes, you have until the tax deadline to make any “top up” contributions – just make sure you don’t exceed the maximum.

    Most HSA plans have a deposit link online, where you select the plan year for your additional deposit – very similar to making an IRA contribution.

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