HSA Contribution Limits

Submitted by David Dunn on Tue, 2022-11-22 23:48

Husband, age 59 and wife, age 48, have Health Savings Account plans available through their employer. They have no dependents.

Is is correct that:

1. If they each participate in their HSA in 2023, the husband’s max contribution is $4,850 and the wife’s max contribution is $3,850?

2.If husband participates in his HSA in 2023 but the wife does not, the husband’s HSA max contribution is $8,750?

3. If wife participates in her HSA in 2023 but the husbands does not, the wife’s HSA max contribution is $7,750?

Permalink Submitted by Urban Fleming on Tue, 2022-12-06 16:29

See IRS Publication 969 for further reading and examples.

Permalink Submitted by William Tuttle on Wed, 2022-12-07 04:02

If one spouse has a family HDHP, both spouses are HSA eligible.
They may split the family contribution limit any way they choose.
Each spouse must make catch-up contributions (if applicable) to their own HSA account is best if the spouse obtaining the HDHP, employer offers HSA contributions by salary reduction. They should maximize the family contribution limit and their own catch-up contribution by salary reduction. Such contributions are FICA exempt.

Correct
Correct
Correct, but the husband could still make his catch-up contribution directly to his own HSA account.
Subject to differences in the HDHP plans. If one spouse’s HSA contributions would be more exempt from Social Security taxes. It might be better if that spouse obtains the HDHP and makes the full family contribution by salary reduction.