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Rules for Independent HSA accounts by each spouse?

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  • Rules for Independent HSA accounts by each spouse?

    A bit of an odd situation here.  My wife and I both have insurance through our respective residency programs.  Our daughter is on my plan which by it's paperwork makes it a "family plan".  Both of us are on High Deductible plans with HSAs and we are planning to file our taxes MFJ and are both enrolled in HSA programs.  My question is this.  After doing reading on the IRS website the HSA contribution limits seem to be per plan, including both employer and employee contributions (although only employee contributions are deductible since the other isn't considered income).  If that is the case, then can the "family" plan that includes me and my daughter contribute up to $6,750, and then my wife's HSA which is just for her also contribute up to 3,350?

     

    That seems almost too good to be true, but it's what the plan documents seem to imply.  We each get large employer contributions to the HSA accounts and so I'm currently being very conservative to make sure we don't end up over contributing.  Thanks for any light anyone can shed!

  • #2
    No. "Per Family" is reported on your form 1040 and cannot exceed $6,750 no matter how many plans you are enrolled in. The 3 of you still make up a single family. The fact that your and your wife's plan documents are not coordinated is irrelevant.
    Working to protect good doctors from bad advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

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    • #3
      Ah that makes more sense.  Thanks for the catch, I figured it was too good to be true!

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      • #4




        Ah that makes more sense.  Thanks for the catch, I figured it was too good to be true!
        Click to expand...


        It never hurts to ask. I've learned a few things over the years from some of our clients' quirky ideas.
        Working to protect good doctors from bad advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

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