Comments on: 2009 HSA Contribution Limits http://hsaadministrators.info/2008/12/2009-hsa-contribution-limits/ Ranked Best HSA for Investors by Kiplingers Tue, 13 Apr 2010 18:16:37 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: WPJ http://hsaadministrators.info/2008/12/2009-hsa-contribution-limits/comment-page-1/#comment-5363 WPJ Wed, 25 Nov 2009 16:03:40 +0000 http://hsaadministrators.info/?p=60#comment-5363 If you have any part of Medicare you are not eligible to contribute to your own HSA. I'm not sure you can drop the Medicare - you may need to research that. So while you will have a HDHP, you cannot contribute. HOWEVER, if your wife will be covered by your HDHP, SHE can open and fund the HSA and continue to use her tax-free HSA dollars to pay for your prescriptions. You are known as an ineligible individual in the HSA regs, which does not impact your wife's ability to contribute. The fact that the insurance policy is in your name does not impact her ability to open the HSA. You mentioned that the HSA only allows $1,000 on branded drugs - I don't understand that, as you can use your HSA dollars on any drugs you choose. The HDHP insurance may have some limitations. If you have any part of Medicare you are not eligible to contribute to your own HSA. I’m not sure you can drop the Medicare – you may need to research that.

So while you will have a HDHP, you cannot contribute. HOWEVER, if your wife will be covered by your HDHP, SHE can open and fund the HSA and continue to use her tax-free HSA dollars to pay for your prescriptions. You are known as an ineligible individual in the HSA regs, which does not impact your wife’s ability to contribute. The fact that the insurance policy is in your name does not impact her ability to open the HSA.

You mentioned that the HSA only allows $1,000 on branded drugs – I don’t understand that, as you can use your HSA dollars on any drugs you choose. The HDHP insurance may have some limitations.

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