How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Lev Your Own Question
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 28927
Experience:  Taxes, Immigration, Labor Relations
870116
Type Your Tax Question Here...
Lev is online now
A new question is answered every 9 seconds

For the first 6 months of 2011 my wife and I had family HSA

Resolved Question:

For the first 6 months of 2011 my wife and I had family HSA coverage. I went on medicare July 1. So I only contributed $3575 or half the $7150 limit to my family HSA account. On July 1 my wife continues to be covered by an HSA plan provided by my former employer. She is 53 and will be covered through the end of year 2013. We file a joint return.  Can she contribute the full $3050 to a self only HSA account this year under the "last month rule"? 
Submitted: 5 years ago.
Category: Tax
Expert:  Lev replied 5 years ago.

LEV :

Hi and welcome to Just Answer!
Each spouse who is an eligible individual who wants an HSA must open a separate HSA. You cannot have a joint HSA.
Thus - you spouse may not contribute into HSA that was open under your name - but may open her own HSA.
To be an eligible individual and qualify for an HSA, your spouse must meet the following requirements.
--She must be covered under a high deductible health plan (HDHP) on the first day of the month.


--She has no other health coverage except what is permitted.


--She is not enrolled in Medicare.


--She cannot be claimed as a dependent.


Under the last-month rule, the person is considered to be an eligible individual for the entire year if he/she is an eligible individual on the first day of the last month of your tax year (December 1 for most taxpayers). Thus if she meets all requirements mentioned above on December 1, 2011 – she would be considered an eligible individual and qualify for an HSA for the entire year 2011.


Let me know if you need any help.

Lev and 3 other Tax Specialists are ready to help you

Related Tax Questions