If our HSA was only effective on 4/1/08, can we deposit $5,800 into our HSA account or only 3/4 for 9 mo.of yr

Question

Is the HSA prorated if you don't have a HD plan for the whole calendar year? thanks

Answer 1

The deposits used to be prorated but no longer. You can deposit the full amount for 2008 as long as you keep the HDHP plan for 12 months. The $5,800 is the family maximum so you must make sure you have at least two people insured.

Answer 2

No-you can deposit the yearly max of $5,800.00-as long as the plan allows a HSA, you can deposit the maximum allowable regardless of how long the plan has been in effect.