Can I Be Enrolled in Two Different HSA Plans with Contributions?

It's a common question among those utilizing Health Savings Accounts (HSA) – can I be enrolled in two different HSA plans with contributions? The answer is yes, but with specific rules and limitations.

If you have multiple HSA plans, you can contribute to both, but the total contribution across all accounts cannot exceed the annual limit set by the IRS. For instance, in 2021, the maximum contribution for an individual is $3,600 and $7,200 for a family.

While you can have multiple HSA plans, it's essential to monitor your contributions to ensure you don't exceed the annual limits. Excess contributions can incur tax penalties, so it's crucial to stay within the allowed thresholds.

Yes, it is possible to be enrolled in two different HSA plans with contributions, but keep in mind that the total contributions to all accounts must respect the IRS annual limit. This limit is $3,600 for individuals and $7,200 for families in 2021.