Meadows Urquhart Acree and Cook, LLP

  • Our Services
  • About Us
    • Meet Our Team
  • Our Culture
    • CPA & Accounting Careers
  • News & Resources
    • Cash Flow Resources
  • Contact Us
  • For Clients
    • Pay My Invoice
    • Send A File
    • SafeSend Returns
    • Previous Portal
    • FAQs
You are here: Home / Featured / HSA Tax Planning Tips

12/20/2017 by Meadows Urquhart

HSA Tax Planning Tips

HSA Tax PlanningThere can be a lot of confusion surrounding HSA Tax planning.  Here are a few things to keep in mind.

  • An HSA does not have to be through an employer.  An individual can open an HSA account
  • You must be enrolled in a high deductible plan to contribute to an HSA
  • When looking for an HSA provider, one should investigate more than one source to compare fees associated with the account, as well as investment options
  • As there is still time to open an HSA for 2017 (contributions can be a lump sum) the limits for 2017 are $3,400 for single and $6,750 for family.
  • At the age of 65, if you choose to go on Medicare, you can no longer contribute to an HSA account
  • If you are on Medicare, and you have previously had an HSA account, you can use the funds to pay for your insurance, but again, you can no longer contribute to the HSA
  • For 2018 the contributions are $3,450 for single and $6,900 for family.
  • The catch up contribution for those age 55 and older are eligible for a $1,000 catch-up contribution.

Please contact us with questions.

Filed Under: Featured, News & Resources

We're Hiring!
We're looking for exceptionally motivated professionals to join our fast-growing team. Apply Now!

DID YOU KNOW …

Not only does Meadows Urquhart provide accounting and tax services, but we’re also forward-thinking CPAs & consultants who take the time to step into our clients' shoes. We offer services for businesses, high-net-worth individuals, nonprofits and hedge funds.

Find out more about our services.

In Your Shoes

We're proud to be a part of this client's success story. Click on the shoes to learn more.
Bingham Arbitrage
Bingham Arbitrage


Meadows Urquhart is a CPA & accounting firm located in Richmond, VA.

Our Location

1802 Bayberry Court, Suite 102
Richmond, Virginia 23226
Phone: 804-249-5786
Fax: 804-249-5781
Contact Us

AGN International member

Follows Us

  • Email
  • Facebook
  • LinkedIn
Certified QuickBooks Pro Advisor Bill.com Expert Certified Certified QuickBooks  OnlinePro Advisor

Get Our Newsletter

Copyright © 2023 Meadows Urquhart Acree & Cook, LLP • All Rights Reserved

Home • About • Contact • Services

A Kinetic Website