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Catch-up contribution to HSA
originally posted: 11/22/2006
reposted: 2/18/2011 This post has not
been recently reviewed or revised by the author and may be out of date.
If you notice an error or are in doubt, please send a new question by
email or ask for an update. Email asktony@tonynovak.com.
Q: I opened an HSA account in
2005. I turned 55 in August of 2006. Am I eligible to make catch up
contributions? Can I make them each year through 2009? Am I eligible to
make the full $700 catch-up contribution in 2006?
A: Yes, assuming that you had a
qualifying health insurance in force for the full year of 2006, then
you can make an additional contribution in the full amount of $700. If
you are married and your spouse is over 55 and your spouse is also
covered by the insurance, then an additional $700 is allowed as a
spousal catch-up. The amount increases each your to $1000 in 2009 and
then remains the same until the year that you become eligible for
Medicare.
Summary
More resources:
www.healthsavingsaccount-hsa.com
