Couple of HSA & FSA questions

[Guest Sharpcarolina]

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

[leevena]

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