![]() HSA ELIGIBLE EXPENSES 2020 FULLIf you make a contribution for the entire tax year during your first year of HSA eligibility – when you only have part-year coverage – then you must remain in an HDHP and subsequently eligible for the HSA through the next full calendar year or must include the amount of this contribution (above and beyond what they could traditionally contribute) in gross income and be subject to an additional 10% tax. Please note: These amounts are indexed annually for inflation. Unspent HSA funds rollover into the next year. Individuals age 55 or older (and not yet enrolled in Medicare) can make additional “catch-up” contributions of up to $1,000 per person each year, which can provide extra help to many early retirees (see below).īoth individuals and employers can contribute to HSAs. ![]() In 2022, the maximum contribution for employees with single coverage is $3,650, and the maximum contribution for employees with family coverage is $7,300. In 2023, the maximum contribution for employees with single coverage is $3,850, and the maximum contribution for employees with family coverage is $7,750. HSA ELIGIBLE EXPENSES 2020 PORTABLEAdditionally, accounts are completely portable meaning you can keep your HSA even if you change jobs, change your medical coverage or become unemployed.
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