hsa account that works with quicken for mac

So in this case, it would make sense for the daughter to make all of her contributions to her own HSA, which has its own have a similar question. As long as they are covered on the family qualified HDHP, adult children can contribute the full family HSA amount into their HSA account.' should read 'into their own HSA.' The limits are applied to each HSA.Īctually, the daughter can contribute to the HSA of whichever parent is the owner (HSA belong to the individual, so each parent could have one - BUT the Family limit is shared between them), but the parents must count all contributions to his/her HSA from any source. So, yes, daughter can open an HSA and contribute to it until such point as she is no longer on any HDHP policy. (The ACA was passed years after the HSA code was passed). Yes, the ability of an adult child who is not a dependent but who is on the parents' HDHP policy is a bizarre and unforeseen consequence of the HSA code in Section 223 and the later Affordable Care Act (Obamacare, ACA) which, among other things, changed health insurance so that you could keep your adult children on your policy even when they are no longer your dependents. The dependent's contributions will not reduce the amount their parents can deposit into their accounts. As long as they are covered on the family qualified HDHP, adult children can contribute the full family HSA amount into their HSA account. So, the parent (your employee) could have an HSA and contribute the allowed maximum family contribution of $6,750 and the dependent adult child could contribute up to $6,750. Because this child is covered on a family-qualified HDHP, opening a separate HSA would allow the child to contribute up to the allowed maximum family contribution of $6,750. However, there is something unique about this situation that many don’t realize.

Because the employee’s HSA funds can’t be used for this dependent, the adult child may wish to establish a separate HSA for his expenses. There are multiple articles on the HSA account contribution by non-dependent adult children covered on the family HDHP plan. My daughter is covered under my family HDHP Plan, and she is filing as non-dependent (individual return). I have a follow-up question on this, based on the articles published by HSA providers.

Hsa account that works with quicken for mac