Hey everyone,
I am having my first kid in October this year. I currently have a individual HDHP with an HSA and a contribution limit of $3500. When my baby boy is born I will be switching to a family plan with a maximum contribution limit of $7000. I want to maximize my amount of tax sheltered income to pay for the new mom and baby's hospital bills. Can I start contributing to my HSA to hit the $7000 number for the year now or do I need to wait until I switch my healthcare plan? My benefits service rep said no, but I was doing some reading of various articles and didn't see anything that could stop me. My plan would just look like I over contributed and would have to pay a penalty at the end of the year until my health insurance plan changed from individual to family. I would like to do this early to lessen the impact of trying to change my contribution drastically at the end of the year. Has anyone had any experience with this or could offer any tips????