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.

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Tax Glossary

Fiscal year

A 12-month period ending on the last day of any month other than December. Partnerships, S corporations, and personal service corporations are limited in their choice of fiscal years and face special restrictions.

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