Question on multiple HSA accounts

[Guest jebmke]

My wife and I are both 55 or older and are able to take advantage of the additional contributions to HSAs ($900 in 2008 and $1,000 in 2009). My account was opened in 2008 and funded to the $5,800 limit -- but I still need to make the additional contribution for 2008 and contributions for 2009 (for me). I know I need to have my spouse open a separate account for any additional contributions for her.

My question is, is there any particular reason to fund her account with any funds other than the "additional" amounts or am I just as well off putting the normal contribution for "family" as well as my additional contributions in my account?

[leevena]

My wife and I are both 55 or older and are able to take advantage of the additional contributions to HSAs ($900 in 2008 and $1,000 in 2009). My account was opened in 2008 and funded to the $5,800 limit -- but I still need to make the additional contribution for 2008 and contributions for 2009 (for me). I know I need to have my spouse open a separate account for any additional contributions for her.

My question is, is there any particular reason to fund her account with any funds other than the "additional" amounts or am I just as well off putting the normal contribution for "family" as well as my additional contributions in my account?

You can fund the hsa this way if you want. As for whether you should do it that way, it depends. The issue I see is how couples view their finances. Some couples split their finances, maintaning seperate accounts, expenses, etc., while others don't. If you and your spouse are comfortable with the larger sums going into your account, go ahead and do it.

[Guest allancoleman]

My wife and I are both 55 or older and are able to take advantage of the additional contributions to HSAs ($900 in 2008 and $1,000 in 2009). My account was opened in 2008 and funded to the $5,800 limit -- but I still need to make the additional contribution for 2008 and contributions for 2009 (for me). I know I need to have my spouse open a separate account for any additional contributions for her.

My question is, is there any particular reason to fund her account with any funds other than the "additional" amounts or am I just as well off putting the normal contribution for "family" as well as my additional contributions in my account?

My original mistake years ago , jebmke , in funding our family HSA account in the begining was that we should have set up TWO seperate HSA accounts in both my name and my wife's name to take advantage of the additional contribution available since we're both over 55 . As I'm going on Medicare later this year , I have now opened a seperate individual HSA account for my wife for 2009 and will fund her individual HSA account to the max until she goes on Medicare herself in a couple more years .