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

Holding period

The length of time that an asset is owned and that generally determines long- or short-term capital gain treatment.

More terms