There’s a possibility I might switch jobs within the calendar year. We are currently covered for health insurance under my employer’s HDHP. One of my current benefits is my employer contributes $2,600 annual ($216.67 once a month) to our HSA. I withhold an additional $164.58 per paycheck to max-out the account by the end of the year.
My prospective job would switch us to a PPO plan which I understand would make us ineligible to continue contributions to our HSA. However, we are allowed to keep and use our HSA if we wish.
What I would like to do is make a lump sum contribution (about $2,400 depending on exactly when I quit) to the HSA before I quit my job so that the account is maxed out for 2014. I will mostly let the account sit in investments unless we had a really major medical bill that would otherwise compel us to go into debt.
Is there any legal, tax-related, or pragmatic reason why this wouldn’t work? It feels like I’m taking advantage of a loophole in the law that surely would be closed if possible, but I can’t find anything online that says my plan wouldn’t work.
Thank you for your help.