Question

Une (56) and Yusef (53) are married filing jointly. June's health insurance through work covers both of them, with a $3,500 annual deductible. June has a health savings account (hsa). they had no other insurance. What is the maximum contributions to their hsa account for 2022?

O $4,600
O $7,300
O $8,300
O $9,200

Answer 1

June and Yusef can contribute a maximum of $7,300 to their HSA for the year 2022. With catch-up contributions of $1,000 each for being over 55, their total contribution could reach $9,300.

Step-by-step explanation:

The question pertains to calculating the maximum contribution that June and Yusef can make to their Health Savings Account (HSA) for the year 2022. For individuals with family coverage under a high-deductible health plan (HDHP), the IRS sets contribution limits. In 2022, the maximum contribution level for an individual with family coverage is $7,300.

Since both June and Yusef are covered under June's health insurance and provided they do not have any other insurance plans that would disqualify them from contributing to an HSA, they would be able to contribute up to this limit.

Additionally, because they are both over 55, they are eligible for a catch-up contribution of $1,000 each, bringing their total potential contribution to $9,300.