I recent underwent a job transition and thus changing healthcare plans mid year. Need some guidance on FSA to HSA eligibility. While I see a lot of past posts asking similar questions, I can't find one that covers my scenario.
Job A facts:
* Employed at Job A from January 1st, to August 1st.
* Job A had a health insurance plan with a FSA
* Completely used up the FSA funds (all $3200) as of August 11th
* Last day to incur expenses is August 1st and last day to submit claims is 03/31/25
Job B facts
* Just started job B
* Starting in September, Job B's 2024-2025 health insurance plan year begins
* New plan for 2024-2025 includes a HSA
I am thoroughly confused reading forum posts about HSA eligibility in this scenario.
* Do I need to wait until after 03/31/25 to contribute to my HSA, even though my FSA has a $0 balance as of 08/11/24?
* If I can contribute to the HSA earlier, when can I?
* If I need to wait until 03/31/25 to contribute to the HSA, is there a limit to what I can contribute in 2025?
Job A facts:
* Employed at Job A from January 1st, to August 1st.
* Job A had a health insurance plan with a FSA
* Completely used up the FSA funds (all $3200) as of August 11th
* Last day to incur expenses is August 1st and last day to submit claims is 03/31/25
Job B facts
* Just started job B
* Starting in September, Job B's 2024-2025 health insurance plan year begins
* New plan for 2024-2025 includes a HSA
I am thoroughly confused reading forum posts about HSA eligibility in this scenario.
* Do I need to wait until after 03/31/25 to contribute to my HSA, even though my FSA has a $0 balance as of 08/11/24?
* If I can contribute to the HSA earlier, when can I?
* If I need to wait until 03/31/25 to contribute to the HSA, is there a limit to what I can contribute in 2025?
Statistics: Posted by crg11 — Sun Aug 11, 2024 6:01 am — Replies 0 — Views 74