HSA question

[dvdvrhs]

Due to a healthcare policy change I will no longer be double covering my wife on my work insurance. Previously since we were both on there I was putting $6,750 into my HSA. Since the split I have the following questions:

• Could I still put $6,750 into my HSA since we joint file our taxes?
• If so should I keep doing that or have her open her own HSA and put in even amounts in each?

For the second question, my gut tells me to keep one account if possible for less management fees? Any thoughts?

[NeonPegasus]

Due to a healthcare policy change I will no longer be double covering my wife on my work insurance. Previously since we were both on there I was putting $6,750 into my HSA. Since the split I have the following questions:

• Could I still put $6,750 into my HSA since we joint file our taxes?
• If so should I keep doing that or have her open her own HSA and put in even amounts in each?

For the second question, my gut tells me to keep one account if possible for less management fees? Any thoughts?

As far as I've seen, the contribution limits are based on the type of plan you have. https://www.shrm.org/resourcesandtools/hr-topics/benefits/pages/irs-sets-2018-hsa-contribution-limits.aspx If have a single person plan, your max should be $3400. In that case, yes, I'd have your wife open her own HSA to contribute her $3400. In fact, that seems like an unforeseen benefit of having 2 single insurance plans and which has been corrected for 2018. I'd check with an accountant to be sure, though.

[MDM]

Could I still put $6,750 into my HSA since we joint file our taxes?

No, because you don't have a family HDHP.  See 2016 Publication 969 - p969.pdf.

If so should I keep doing that or have her open her own HSA and put in even amounts in each?

For her to have her own HSA she must be covered under an HDHP.  If so, the HSA must be in her name.

[swinginbeef]

I thought that the max for a family was 6750, so we've been splitting between the two of us even though we have our own policies. My policy covers the kids and myself and her policy covers her. Would this suggest that I can contribute $6750 (since I hold a family policy) and she can contribute an additional $3400 (her single policy), even if we file our taxes as Married?

[dvdvrhs]

Thanks for the help I will have her open her own HSA.

@Swinginbeef nope, 6750 is the max. From what I recall single parents don't even get the 6750.

[terran]

I thought that the max for a family was 6750, so we've been splitting between the two of us even though we have our own policies. My policy covers the kids and myself and her policy covers her. Would this suggest that I can contribute $6750 (since I hold a family policy) and she can contribute an additional $3400 (her single policy), even if we file our taxes as Married?

According to https://support.tangohealth.com/hc/en-us/articles/204143614-Rules-and-Best-Practices-when-Spouses-are-Both-HSA-Eligible (one of the first google results for "family and single hsa") you've been doing it correctly by sharing the family limit between you and your spouse.

[Heroes821]

If you are on two single person HDHPs then your total HSA contributions are 2 x the single person cap $3,400 each.

If you are a single parent you and your child can be on the HSA qualified plan and get the family amount.

For a real world example. I was on a HDHP for 2016 and hit my personal limit. After getting married in end of November I added my step son (no pre-existing conditions) to my plan and was allowed to hit the family cap for 2016.  All while my wife and step daughter (pre-existing conditions/prescriptions) were on a LDHP for the year.  Repeated for 2017, but all of 5 of us will move to HDHP for 2018. 

[MDM]

From what I recall single parents don't even get the 6750.

Single parents who also cover children on their HDHP policies do have "family coverage" and may contribute the family maximum.

From 2016 Publication 969 - p969.pdf:

Example.
An  eligible  individual  and  his  dependent
child are covered under an “employee plus one” HDHP of-
fered  by  the  individual's  employer.  This  is  family  HDHP
coverage.