Regional Vice President of Sales The Retirement Plan Company
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Loan & Distribution Specialist AimPoint Pension
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Compass
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Bates & Company, Inc.
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AimPoint Pension
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Text of IRS Information Letter 2016-0014: Maximum Permissible HSA Contribution in the Year an Individual Reaches Age 65 (PDF)
Internal Revenue Service [IRS] [Guidance Overview] Mar. 30, 2016
"The amount of the maximum permissible HSA contribution in the year an individual attains age 65 is prorated based on the number of months the individual is an eligible individual ... If [the individual] has coverage by a HDHP and no disqualifying coverage during 2016, for the 9 months that she has HDHP coverage before enrollment in Medicare, she would be allowed an HSA contribution of either $5,062.50 if enrolled in family coverage ($6,750 x 9/12) or $2,512.50 if enrolled in self-only coverage ($3,050 x 9/12). In addition, [she] would be allowed a catch-up contribution of $750 ($1,000 x 9/12) into her HSA because she is age 55 or over." [Feb. 17, 2016; published online Mar. 29, 2016]
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