Submitted By: someone
Answered: July 22, 2019 3:26 am

My spouse is enrolling in Medicare. I’m still covered by a high-deductible health plan (HDHP). Can I contribute to an HSA?

Yes. If you have a health savings account (HSA), your contribution to a self-only plan is permissible up to set annual limits (in 2019 it’s $3,500, plus $1,000 if you’re age 55 or older by year end). Alternatively, if you have a dependent under the HDHP, you can contribute to an HSA up to the limit for family coverage.

advertisement
Tax Glossary

Depreciation

Writing off the cost of depreciable property over a period of years, usually its class life or recovery period specified in the tax law.

More terms