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This Web site contains a compilation of more than a thousand consumer finance  columns written by Tony Novak from the 1980s through 2006, updated and reformatted for maximum usefulness today.  New material was added after 2010.

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Health Savings Account insurance

originally posted: 11/22/2006  reposted: 2/18/2011 This post has not been recently reviewed or revised by the author and may be out of date. If you notice an error or are in doubt, please send a new question by email or ask for an update. Email

Q: I am confused. I have an HSA. I am enrolled in a High Deductible Medical Plan with a deductible of $2,500 per Family Member (It is just my Spouse and Myself). For 2006 I put $1,700 is the HSA, which included a matching part from my Employer. I want to catch up and put the Max in for 2006. How much is the total I can contribute for 2006??? I was told that the amount is based on my Salary? Is that true?

A: There is some additional misunderstanding here. If your insurance policy has a "per person" deductible, then you are not qualified for a Health Savings Account since individual deductibles are clearly prohibited. In any event the contribution for 2006 is not based on salary but depends on the type of coverage (family), the policy deductible, your age, and the number of months your were eligible. (This formula changed for 2007). More information on the requirements for qualifying insurance as well as the formulas for calculating maximum deductions can be found in the FAQs at


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