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HSA for sole proprietors

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  • HSA for sole proprietors

    I am not sure if anyone is able to provide us some guidance. My spouse is a physician and we are both covered under my employer's health plan with a HSA that I max out. My spouse is both a W2 employee and a sole proprietor for some side gigs that brings in some extra 1099 income. We already plan to have a solo 401k for the side gig considering we can contribute a portion of the side gig earnings to retirement through the employer portion. My question is if we can also have a "solo HSA" even if we are both covered by my HDHP and I max out on the HSA. Any insight from people here would be much appreciated!

  • #2
    While both spouses covered under a family HDHP are HSA eligible individuals able to open their own HSA account and make contributions. Under the rules for married people, their contributions combined are limited to the family contribution limit.

    HSA accounts are fully independent of employment. You do not even need to have earned income to contribute. You only need to be an HSA eligible individual. Her also being a sole proprietor is no more relevant than having a second W-2 job. Even if that employer were to contribute to an HSA, that would have to be included in your contribution limit.

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    • #3
      Thank you! Extremely helpful.

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