Contributing to an HSA Who can open and contribute to an HSA?
You must be covered by an eligible HDHP to open or contribute to an HSA. An HSA is an individual account; you cannot open a jointly-held HSA. Multiple adults covered under a family plan may each open an HSA, but the collective total of both accounts may not exceed the family contribution maximum. For 2009 the family contribution maximum is $5,950. Note: Although HSAs are individual accounts, the funds in the HSA can be used for your spouse, yourself or a dependents eligible medical expenses. A husband and wife enrolled in an eligible family HDHP can: • Open an HSA in one spouse’s name and contribute up to the family maximum. Those funds can be used to pay for medical expenses for anyone covered by the plan. • Open individual HSAs and contribute to both, but the collective total of both must not exceed the family contribution maximum including any catch-up amounts. This may be an appealing option if you and your spouse are both eligible for catch-up contributions to an HSA after age 55,
You must be covered by an eligible HDHP to open or contribute to an HSA. An HSA is an individual account; you cannot open a jointly-held HSA. Multiple adults covered under a family plan may each open an HSA, but the collective total of both accounts may not exceed the family contribution maximum. For 2010 the family contribution maximum is $6,150. Note: Although HSAs are individual accounts, the funds in the HSA can be used for your spouse, yourself or a dependents eligible medical expenses. A husband and wife enrolled in an eligible family HDHP can: • Open an HSA in one spouse’s name and contribute up to the family maximum. Those funds can be used to pay for medical expenses for anyone covered by the plan. • Open individual HSAs and contribute to both, but the collective total of both must not exceed the family contribution maximum including any catch-up amounts. This may be an appealing option if you and your spouse are both eligible for catch-up contributions to an HSA after age 55,
