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Can I Make A Deductible IRA Contribution?
Category: Working / Accumulation Phase, Tax Planning, Assets and Investment Planning, General
What Issues Should I Consider If My Spouse Passed Away?
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Important Milestones
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What Issues Should I Consider When Harvesting Capital Losses?
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What Issues Should I Consider When Reviewing My RMD?
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Taxation Guide To Withdrawals And Income Sources
Category: Tax Planning
How Must I Take Distributions From The Roth IRA I Inherited?
Category: Estate Planning
What Documents Do I Need To Collect For Filing My Tax Return?
Category: General, Tax Planning
As A Retiree, What Issues Should I Consider When Reviewing My Tax Return?
Category: General, Tax Planning
As Someone Who Is Working, What Issues Should I Consider When Reviewing My Tax Return?
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What Issues Should I Consider At The Start Of The Year?
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Master List Of Goals
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Assets and Investment Planning

Can I Make A Deductible Contribution To My HSA?

Updated 12/01/2024

The HSA contribution rules are generally straightforward. However, the rules can become complicated in years when there will be a change to healthcare coverage. Perhaps a client is moving from individual to family coverage, or they are leaving their health plan, or they are starting Medicare. In these instances, it is important to revisit the rules and apply them to your client’s unique situation.

To help make this analysis easier, we have created the “Can I Make A Deductible Contribution To My HSA?” flowchart. It addresses some of the most common issues that arise for a client trying to contribute to an HSA. This flowchart considers:

  • The minimum deductible requirements for HDHP
  • The maximum out-of-pocket expense for HDHP
  • Contribution amounts
  • Impact if HDHP coverage starts or changes this year
  • Full Contribution Rule and Last-Month Rules
  • HSA and Medicare coordination
Related Guides
Will The Distribution From My HSA Be Tax And Penalty-Free?
Category: Retirement / Decumulation, Assets and Investment Planning