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If my HSA is set up midyear (after my FSA), can I change my FSA contributions for the rest of that year?
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- If my HSA is set up midyear (after my FSA), can I change my FSA contributions for the rest of that year?
When your coverage changes, your contribution limit changes with it.
A change to family coverage will allow you to contribute up to the family limit. There are two ways you can do this:
Changing to single coverage requires you to decrease the contribution amount for any month in which single coverage was in force for a portion of the month.
- Make a prorated contribution based on when the family coverage was in effect.
- Make the full family annual maximum contribution, but coverage must be kept through December of the following year.
When your health insurance plan changes, update your health plan information in your profile on [www.hellofurther.com or partner SSO link]. This way, we can alert you when you're nearing your maximum contribution level.