USA HSA Help needed

Joined
Dec 13, 2017
Messages
1
Reaction score
0
Country
United States
My husband has had a HDHC family plan at work for several years with a HSA. Beginning January 3, I got my own family coverage through my employer. On Feb 1, he dropped his coverage to single through his work, but was double covered by me because there was no extra cost to do so, and my coverage was better.

Through our own ignorance, we didn't realize this made him ineligible for contributing to a HSA. He has nearly a year of contributions.

I can figure out what to do for his HSA, as far as submitting an excessive contributions form and taking out the money that has been contributed. Near as I can tell, because he had family coverage and was eligible for an HSA on January 1, we take the total contributions ($3000) for the year and subtract 1/12 of the max he could contribute for family (562.50), minus a small amount for interest earned, and pay taxes on that as earned income. Is that correct?

Our biggest problem is this: On January 1 my husband's health insurance carrier instituted an exercise incentive program that, with the help of a tracker, paid a max of $3 per day for meeting certain exercise milestones. This money was deposited into a different HSA account. My husband has used some of this money. I spoke to this bank today, and the money is showing as "employer contribution." I have no idea what to do! She said to contact his employer and have them withdraw the funds. I'm pretty sure the money came from the insurance company. Will the insurance provider do this? What about the money he has spent on medical expenses? Can we pay this back in some way?
 

Drmdcpa

VIP Member
Joined
Aug 2, 2017
Messages
499
Reaction score
42
Country
United States
If he has an HDHC he or his employer can contribute to an HSA on his behalf. Any excess contributions not timely withdrawn will be subject to penalty.

Your post started to get quite complex. Thus a bit difficult to follow nor answer the many questions posed.
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Members online

Forum statistics

Threads
11,662
Messages
27,630
Members
21,463
Latest member
TonyL

Latest Threads

Top