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Maxing out HSA and deducibility of Health Insurance

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  • Maxing out HSA and deducibility of Health Insurance

    I will be maxing out my family HSA contribution this year.  Is the health insurance (not HSA) deduction reduced by the amount of HSA contribution or is the health insurance still fully deductible?  I work as both an independent contractor and employee and am receiving conflicting information on this.  Thanks.

  • #2
    fully deductible. HSA contribution does not matter.

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    • #3




      I will be maxing out my family HSA contribution this year.  Is the health insurance (not HSA) deduction reduced by the amount of HSA contribution or is the health insurance still fully deductible?  I work as both an independent contractor and employee and am receiving conflicting information on this.  Thanks.
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      wci is correct. What you pay for health insurance is unrelated to your deduction for the HSA contributions. However, as a physician, I would be surprised if you could deduct your health insurance unless you are considered self-employed for purposes of health insurance contributions (i.e. not an S-corp and don't pay for health insurance through your employer). Of course, employer health insurance benefits are nontaxable if you are <2% shareholder.
      Our passion is protecting clients and others from predatory advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

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