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Covered California Q&A

Covered California and Obamacare related questions from consumers, employers and agents are answered by Phil Daigle with the best information available at the time. Archived entries may no longer be accurate as the Covered California and Obamacare knowledge-base is evolving quickly. TO REQUEST A PERSONAL RESPONSE INCLUDE EMAIL ADDRESS.


Lump sum HSA Deposits

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Question: is it ok to make lump sum deposits in my hsa accout.

Answer: The short answer is yes. You will want to check with your HSA administrator about how best to do that. Most administrators will accept checks. You will also want to ensure that you do not exceed the maximum annual contributions of $2,850 if you have an individual plan or $5,650 if you have a family plan. Additionally if you are over the age of 55 you can make catch-up contributions. For 2007 the maximum amount you can contribute is $800 as a catch-up contribution. You might find the US Treasury website helpful. Hope this helps.

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