How Does HSA Limit Change If You Get Married?

Getting married can have an impact on various aspects of your financial life, including your Health Savings Account (HSA) limit. When you tie the knot, it's essential to understand how your HSA contributions and limits may be affected.

Firstly, if both you and your spouse have individual HSAs, you are each responsible for your own contribution limits. This means that you can continue contributing to your HSA without any changes due to marriage.

However, if one spouse has a family HSA that covers both individuals, getting married may change the contribution limit. Here's how:

• When you're single, the maximum contribution limit for 2022 is $3,650 for individual coverage and $7,300 for family coverage.
• If you get married and switch to a family HSA, the family contribution limit applies to your combined coverage. This means you can contribute up to $7,300 in 2022, regardless of when you got married during the year.
• It's important to note that if you marry later in the year, the contribution limit for the year is prorated based on the number of months you were eligible to contribute.

Understanding how marriage impacts your HSA limit is crucial for maximizing your contributions while staying within the IRS guidelines. Consult with a financial advisor or tax professional to ensure you're making informed decisions about your HSA contributions post-marriage.

Getting married not only signifies love and commitment but also brings significant changes to your financial landscape, especially regarding your Health Savings Account (HSA). If both you and your spouse maintain individual HSAs, you can each grasp the same contribution limits as singles.