HSA Question

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emdoc
Posts: 27
Joined: Mon Jun 27, 2011 9:50 pm

HSA Question

Post by emdoc » Tue Jan 14, 2020 4:43 am

I transitioned out of a W2 job into 1099 work in 2019. I am on a high deductible plan through Cobra from my previous employer as of late 2019. Before that I was on a regular high deductible plan (same one as I am on now) through my employer.

I contributed only $250 into my 2019 HSA through paycheck deductions last year. Is it correct that if I open up an HSA account at Fidelity or HSABank or any other HSA providers, I am still eligible to place $3250 into the HSA for 2019 as long as I fund it before April 15 2020? And I can do the same with cobra insurance for 2020 as long as it is still an eligible HDHP?

Thanks!

Spirit Rider
Posts: 12192
Joined: Fri Mar 02, 2007 2:39 pm

Re: HSA Question

Post by Spirit Rider » Tue Jan 14, 2020 9:01 am

Yes, yes.

terran
Posts: 1037
Joined: Sat Jan 10, 2015 10:50 pm

Re: HSA Question

Post by terran » Tue Jan 14, 2020 9:32 am

It sounds like you did not have HSA eligible insurance for all of 2019, but you did have it as of December 1st 2019, and you will have it for all of 2020? If all of those are correct, then yes, you can contribute the max for both 2019 and 2020.

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