What happens if I no longer am enrolled in a qualified HSA medical plan?
According to IRS guidelines, you are eligible to have an HSA bank account and continue to access the HSA funds to pay for qualified healthcare expenses for you and your eligible dependents. However, if you are no longer covered by a qualified HSA medical plan (Purdue Choice Fund Plan), you are not eligible to make or receive additional contributions to your HSA account.
Related Questions
- If both spouses have coverage through the Choice Fund plan, (or another employer’s HSA qualified medical plan) how much can each spouse contribute to their HSA?
- What happens to an HSA when the account holder no longer has a high-deductible health plan?
- What happens if I no longer am enrolled in a qualified HSA medical plan?
