The Money Mustache Community
Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: solon on October 03, 2018, 05:26:54 PM
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When I started my new job in January of this year, I signed up for the HSA immediately, and maxed it out ($3,450.00) as quickly as possible. But today, they let me go.
Since I wasn't there an entire year, am I allowed to max it out? Or is my maximum contribution amount somehow prorated?
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It's prorated on a monthly basis, but if you had insurance on the first of the month you're covered for October. If you can get insurance that allows an HSA by the first of November I don't think you'll need to withdraw any contributions.
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Yes, unless you stay on the plan through COBRA, or get on another HSA plan by December. See the last month rule.
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Sorry they let you go, man.
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This is certainly an unique MPP (mustachian people problem). Against, sucks you lost your job.