I live and work in California. For the past couple of years, I have been on a High Deductible Health Plan which includes a Health Spending Account benefit. Each year I have contributed the self-only coverage maximum ($3650-ish) to my Health Spending Account. My company does not administer the HSA. Their policy is for me to administer my own one, so I made an HSA account on Fidelity and report it on my taxes. This has worked great for 2021 and 2022.
I have not contributed any money in 2023 yet because I’ve been cash-strapped paying for my wedding. My wife has her own health insurance and we have not added her to my company’s.
As of this week, I have been fortunate enough to get a new job that pays more. I have put in my two weeks, and will have enough cash budgeted to afford to max out the HSA for 2023 if I want to. At my new job, both me and my wife will elect to be on the health insurance under a PPO plan without an HSA benefit.
Is it a good idea to contribute the $3,850 max to my HSA for 2023? Do I need to contribute before I leave the company?
Submitted April 27, 2023 at 02:37AM by Ok_Savings_9382 https://ift.tt/73xo1CO
