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Saturday, May 24, 2008

HSA – Mistake – Mid-Year Marriage

Oops. I learned the hard way that HSA plans can be tricky. When I get married later this year, I planned on joining my fiancé's health plan. It offers comprehensive benefits and my employer will pay me a bribe to reject health insurance under our plan. When I spoke with HR about making the switch from my current plan (HSA), I learned there are possible "tax consequences" for moving from an HAS in the middle of the year. Definitely not in the plan. Rather than switch in September like I planned, I am going to wait until January, 2009. While the penalties may not be severe (I think they are 10% of my contribution), I don't feel like making my return any more complicated than it already is.

2 comments:

Tanveer Iqbal said...
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Tanveer Iqbal said...

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