Question 1

I’m over 55 and would like to make catch-up contributions to my HSA, like I’ve done with my IRA. Is that possible?

admin · Accepted Answer

Yes, individuals 55 and older who are covered by an HDHP can make additional catch-up contributions of $1,000 into an HSA in their own name each year until they enroll in Medicare. The additional “catch-up” contributions to HSA allowed are as follows: 2009 and after – $1,000

Individuals who enroll in the HDHP by December 1 can make a full-year catch-up contribution to the HSA that year.
Individuals must be covered by a qualified HDHP and remain an eligible individual for 12 months after the end of the calendar year in which they enrolled in an HDHP.
Individuals not covered by an HDHP for 12 months after the end of the calendar year in which they enrolled in an HDHP are subject to income tax and a 10% excise tax on HSA catch-up contributions for months not covered by an HDHP.

Question 2

I’m over 55 and would like to make catch-up contributions to my HSA, like I’ve done with my IRA. Is that possible?

admin · Accepted Answer

Yes, individuals 55 and older who are covered by an HDHP can make additional catch-up contributions of $1,000 into an HSA in their own name each year until they enroll in Medicare. The additional “catch-up” contributions to HSA allowed are as follows: 2009 and after – $1,000

Individuals who enroll in the HDHP by December 1 can make a full-year catch-up contribution to the HSA that year.
Individuals must be covered by a qualified HDHP and remain an eligible individual for 12 months after the end of the calendar year in which they enrolled in an HDHP.
Individuals not covered by an HDHP for 12 months after the end of the calendar year in which they enrolled in an HDHP are subject to income tax and a 10% excise tax on HSA catch-up contributions for months not covered by an HDHP.