Author Topic: Switching to HSA eligible plan mid year because of job loss  (Read 937 times)

Gin1984

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Switching to HSA eligible plan mid year because of job loss
« on: January 09, 2015, 08:31:38 AM »
I am losing my job as of next Wednesday.  However my insurance will continue a month after (grad student, they do weird things) so we are switching to my husband's employer's plan, a HSA eligible plan.  But I wanted to see how much I can contribute. The plan has a $5000 out of pocket max which I obviously want to have.  I was told we had to prorate the annual amount we can put in by the amount of time we were under the other plan.  Please help 

MDM

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Re: Switching to HSA eligible plan mid year because of job loss
« Reply #1 on: January 09, 2015, 01:33:27 PM »
Per http://www.irs.gov/publications/p969/ar02.html:
Quote
Under the last-month rule, you are considered to be an eligible individual for the entire year if you are an eligible individual on the first day of the last month of your tax year (December 1 for most taxpayers).

Also see http://www.mycafeteriaplan.com/irs-announces-hsa-contribution-limits-for-2015/