As briefly as I can, I have left a large bank that had HDHP and a HSA. The new company has terrible family coverage, but excellent individual coverage. Therefore, I am covered by the company insurance (Blue Cross Blue Shield) and have money take out of my check and put into a company sponsored FSA.
My wife and kids are under a privately purchased HDHP plan. My question is this. The HSA is still open, but has a zero balance, but is in my name.
Can I open an HSA in her name (since she has the HDHP) and contribute to it (she doesn't work) and keep my FSA open and use it?
Even more important, can I transfer any remaining balance in the FSA at year end to the HSA and simply not do the FSA next year.
My issue is that I think I will have a balance in the FSA and like the employer deducted contribution route better than contributing with after tax dollars.
Any help would be greatly appreciated
Full Version: Couple of HSA & FSA questions
QUOTE (Sharpcarolina @ Jan 8 2009, 09:37 AM) 
As briefly as I can, I have left a large bank that had HDHP and a HSA. The new company has terrible family coverage, but excellent individual coverage. Therefore, I am covered by the company insurance (Blue Cross Blue Shield) and have money take out of my check and put into a company sponsored FSA.
My wife and kids are under a privately purchased HDHP plan. My question is this. The HSA is still open, but has a zero balance, but is in my name.
Can I open an HSA in her name (since she has the HDHP) and contribute to it (she doesn't work) and keep my FSA open and use it?
Answer--Yes, she can have her own and you can contribute to it. Yes, you can keep your fsa open.
Even more important, can I transfer any remaining balance in the FSA at year end to the HSA and simply not do the FSA next year.
[b]Answer--Not quite sure, but everything I have seen/read says no. All is have seen/read says the "employee can roll it over to the employee hsa", but I have not seen the ability to roll it over into another persons hsa.[/b]
My issue is that I think I will have a balance in the FSA and like the employer deducted contribution route better than contributing with after tax dollars.
300
Any help would be greatly appreciated
My wife and kids are under a privately purchased HDHP plan. My question is this. The HSA is still open, but has a zero balance, but is in my name.
Can I open an HSA in her name (since she has the HDHP) and contribute to it (she doesn't work) and keep my FSA open and use it?
Answer--Yes, she can have her own and you can contribute to it. Yes, you can keep your fsa open.
Even more important, can I transfer any remaining balance in the FSA at year end to the HSA and simply not do the FSA next year.
[b]Answer--Not quite sure, but everything I have seen/read says no. All is have seen/read says the "employee can roll it over to the employee hsa", but I have not seen the ability to roll it over into another persons hsa.[/b]
My issue is that I think I will have a balance in the FSA and like the employer deducted contribution route better than contributing with after tax dollars.
300
Any help would be greatly appreciated
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