If I get a qualified HSA health insurance plan and HSA mid-year how are HSA contributions pro-rated?
A. Individuals who are eligible individuals on the first day of the last month of the taxable year (December for most taxpayers) are allowed the full annual contribution (plus catch up contribution, if 55 or older by year end), regardless of the number of months the individual was an eligible individual in the year. For individuals who are no longer eligible individuals on that date, both the HSA contribution and catch up contribution apply pro rata based on the number of months of the year a taxpayer is an eligible individual.
Related Questions
- I joined the Plan during Open Season and my coverage is effective on January 2, 2011. Why didn the contributions to my HSA from Aetna start until February?
- If I get a qualified HSA health insurance plan and HSA mid-year how are HSA contributions pro-rated?
- What Is an HSA Qualified Health Insurance Plan/High Deductible Health Plan (HDHP) ?
