DW was contributing to a family HSA and had planned to work a few more years. I was on her health plan at work even though I was over 65. Her job ended in September, so I had to go on Medicare. As I understand it, you have to stop contributions as soon as you go on Medicare. Since Medicare effective start dates for Part A are retroactive my start dates show October for Part B, but February for Part A. DW had contributed about $6800 for HSA and catchup at the point her job ended.
1. Will she be penalized for overcontributing? (I really hate the predating of start date for Medicare).
2. Is there a way to reverse part of the contribution to avoid penalty? $6800-$5150?
Thanks for any insight.
1. Will she be penalized for overcontributing? (I really hate the predating of start date for Medicare).
2. Is there a way to reverse part of the contribution to avoid penalty? $6800-$5150?
Thanks for any insight.
Statistics: Posted by Dufus — Sun Oct 20, 2024 7:16 pm — Replies 2 — Views 341