How much can a client contribute to an HSA account if he/she changes the plan deductible mid-year?
If a client changes his/her deductible mid-year, his/her contribution will be pro-rated based on the new deductible. For example, if your client changes the deductible from $1,100 to $2,600 in June, his/her contribution is 6/12 of $1,100 ($550) plus 6/12 of $2,600 ($1,300), for a total of $1,850 for the year.
Related Questions
- My husbands insurance just changed to a HIGH DEDUCTIBLE HSA/HRA plan. How does this change from the traditional deductible that we had in the past?
- Do I have to be enrolled in a High Deductible Health Plan (HDHP) to contribute into an HSA (Health Savings Account)?
- How much can a client contribute to an HSA account if he/she changes the plan deductible mid-year?
