What to Do If You Contribute to an HSA in 2018 but Switched to a Non-High Deductible Plan

Have you contributed to an HSA in 2018 but recently switched to a non-high deductible health plan? Don't worry, there are steps you can take to address this situation.

If you find yourself in this scenario, follow these guidelines:

• Contact your HSA provider to inform them about the change in your insurance plan.
• Check if you are still eligible to use the funds in your HSA account for qualified medical expenses.
• If you are no longer eligible, consider withdrawing the excess contributions to avoid penalties.
• Review the IRS guidelines on excess HSA contributions and consult a tax professional if needed.

If you've contributed to your HSA in 2018 but then switched to a non-high deductible plan, don't panic. Understanding your situation can help you make informed decisions about your health savings account.