I am starting a new job and one of the benefits is a $1,000 annual employer contribution to an HSA account. I currently have my health insurance through my domestic partner, and because we are unmarried, we are able to exploit a loophole - our insurance coverage is a family plan, but we file taxes as individuals, which allows us to each contribute the family max to an HSA account. We both invest our HSAs and pay out of pocket for medical expenses up to the deductible. I am 45 years old and don't plan on making any withdrawals from my HSA until age 65.
Is it worth staying on my partner's plan to continue to exploit this loophole and have access to the higher family HSA contribution amount, or is it worth capturing the $1,000 free employer contribution at the new job, which is offset by $328.90 in premiums I would be paying annually?
Numbers are below:
Current Plan: $0 premiums annually, $3,300 deductible, $4,300 Out of Pocket Max, $8,550 annual contribution to HSA (all me)
New Job Plan: $329 premiums annually, $2,000 deductible, $4,000 Out of Pocket Max, $4,300 annual contribution to HSA ($3,300 me, $1,000 employer)
Is it worth staying on my partner's plan to continue to exploit this loophole and have access to the higher family HSA contribution amount, or is it worth capturing the $1,000 free employer contribution at the new job, which is offset by $328.90 in premiums I would be paying annually?
Numbers are below:
Current Plan: $0 premiums annually, $3,300 deductible, $4,300 Out of Pocket Max, $8,550 annual contribution to HSA (all me)
New Job Plan: $329 premiums annually, $2,000 deductible, $4,000 Out of Pocket Max, $4,300 annual contribution to HSA ($3,300 me, $1,000 employer)
Statistics: Posted by Sea B — Thu Jan 02, 2025 11:31 am — Replies 2 — Views 240