Can I Contribute to My Spouse's HSA?

Yes, you can contribute to your spouse's Health Savings Account (HSA) under certain conditions. Contributing to your spouse's HSA can be a tax-efficient way to save for healthcare expenses as a family.

Here are the key points to consider when contributing to your spouse's HSA:

• You can make contributions to your spouse's HSA as long as your spouse is eligible to have an HSA.
• Your spouse must be covered by a high deductible health plan (HDHP) to be eligible for an HSA.
• The total contribution for both you and your spouse cannot exceed the annual contribution limit set by the IRS.
• If your spouse is 55 or older, they can make additional catch-up contributions to their HSA.
• Contributions to your spouse's HSA may be tax-deductible, reducing your overall taxable income.
• Any withdrawals from the HSA for qualified medical expenses are tax-free.

It's essential to consult a tax advisor or financial planner to ensure you are following the IRS guidelines when contributing to your spouse's HSA.

Absolutely! You can contribute to your spouse's Health Savings Account (HSA), and it's a smart way to enhance your family's healthcare savings.