HSA Education and Contribution Limits
- HSA Video - What is an HSA?
- HSA Contribution Limits
- Eligible Expenses
- Prorating Contributions
- Prorating is required to avoid tax penalties when an individual does not maintain HSA-compatible coverage through December 31st of the following year. Consult your tax advisor.
- Mid-year Coverage - If your new HSA-compatible coverage begins in July of a given year, you are eligible to contribute the maximum amount for that year provided that you maintain coverage until December 31st of the following year.
- Health Plan Status Change - If you begin the year with family coverage and switch to single coverage in July of that year, you are eligible to contribute half of the family coverage contribution maximum and half of the individual coverage contribution maximum.
- Prorating is required to avoid tax penalties when an individual does not maintain HSA-compatible coverage through December 31st of the following year. Consult your tax advisor.
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