When an employee elects COBRA and is covered under a HDHP/HSA medical plan, can they continue to contribute to the account (HSA)?

Category: Health Savings Account and Health Insurance
When an employee elects COBRA and is covered under a HDHP/HSA medical plan, can they continue to contribute to the account (HSA)?
https://lxprodcurblob.blob.core.windows.net/static/user/logo/user.png
Anonymous 09/16/2015

1 Answer(s)

Yes, you can contribute to an HSA as long as you are covered by an HSA-qualified plan and have no disqualifying coverage such as Medicare or a full health FSA. It does not matter if the coverage is provided by an employer, through COBRA, or through individual insurance.   If you are covered for a partial year, you must pro-rate the max contribution for the number of months you were covered, but you have until tax day to complete your max contribution.   Finally, if a person is receiving insurance through COBRA or is receiving unemployment insurance, they may pay their health plan premiums with HSA funds tax-free, regardless of their age.
Vish Banthia 06/30/2016
https://lxprodcurblob.blob.core.windows.net/static/user/logo/user.png

HEALTH

  • MRI
    MRI Scan
    Diagnostic imaging available via Pick Your Price or Buy Now
  • Mammogram
    Mammogram
    Screening and diagnostic imaging available at your own price
  • Lasik
    LASIK
    Pick Your Price on LASIK corrective surgery for Both Eyes

DENTAL

COSMETIC