I changed jobs mid-year and was covered under a HDHP with my old employer from January 1 through April 30th. I I was covered again on a HDHP with my new employer on May 1st (so exactly 1 month lapse in coverage where I was uninsured and didn't have a HDHP).
If I understand tax laws right (which I don't), I can contribute only 11/12 of the $3,650 contribution limit (for a total of $3345.86), right?
I'm currently on track to exceed that pro-rated limit by about $200. I'm going to try and get HR to adjust my contributions to not go over, but if I can't, I would end up paying a 6% penalty on that excess ($200) when I do my taxes - so a $12 tax bill for exceeding the limit, right?
Submitted October 08, 2022 at 12:20AM by nclark8200 https://ift.tt/ZwRE1rJ
