Question

21. Vibha works for AB Consulting. She can contribute to her HSA through her employers cafeteria plan via a deduction from each one of her paychecks. Vibha is married and the families only health insurance is a qualified high deductible health insurance policy. Each month through her monthly paycheck, Vibha contributes $400 to her HSA. During the calendar year of 2018, Vibha contributed $4,800 to her HSA. It is now February of 2019, Vibha realizes that she did not contribute the maximum to her HSA in 2018. What are her options.

Answer 1

Ans:

1. VIBHA is an employee and have HDHP for health services. Further she is married and maintain HSA( Health Saving Account) for family.
2. So her maximum contribution towards HSA for the year can be $ 6,750/-
3. As feburary month is going on and she had contributed nothing in current year 2019 till now.
4. There are remaining 11 month availaible to her in current fiscal year; So she has two option:

Option 1: Contribute $ 400 per month as she has done in last year and then her total contributuion will be $ 4400/-

Option 2: She can increase her monthly contribution towards HSA, which comes to $ 613.64 per month($6750/11).

So she can choose her monthly contribution in HSA between the range of $ 400- $613.64 per month during the remaining month of the year.

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