Catch up in 2009: Adding More to Your Health Savings Accounts

As you’ll read in other parts of my website, health savings accounts were designed to help you better manage your health care dollars as you grow a nest egg–either for the more expensive health events that could happen, or after age 65, any purpose you wish.

An ideal account for many people–especially young adults. But what if you started your HSA later in life? Good news: now you can catch up.

In 2009, HSA owners aged 55 and older can deposit up to $1000.00 over the regular maximum contribution amount to their health savings accounts. A “catch-up” contribution can be made every year until they reach age 65. Catch-up contributions are prorated based in the number of months the qualified health plan is in effect and the number of months the tax-payer is age 55 or over. 

Catching up is a great way for our “more experienced” citizens to enjoy the full benefits of their
HSAs. Need more info?

Call me at 904-273-5704,
or just send an Email: ksmith@kensmithinsurance.com.