international health insurance

 These limits are set by the U. S. Congress through statutes and they are indexed annually for inflation. For individuals above 55 years of age, there is a special catch up provision that allows them to deposit additional $800 for 2008 and $900 for 2009. The actual maximum amount an individual can contribute also depends on the number of months he is covered by an HDHP ( pro - rated basis ) as of the first day of a month. For eg If you have family HDHP coverage from January 1, 2008 until June 30, 2008, then cease having HDHP coverage, you are allowed an HSA contribution of 6 / 12 of $5, 800, or $2, 900 for 2008. If you have family HDHP coverage from January 1, 2008 until June 30, 2008, and have self - only HDHP coverage from July 1, 2008 to December 31, 2008, you are allowed an HSA contribution of 6 / 12 x $5, 800 plus 6 / 12 of $2, 900, or $4, 350 for 2008. If an individual opens an HDHP on the first day of a month, then he can contribute to HSA on the first day itself. However, if he / she opens an account on any other day than the first, then he can contribute to the HSA from the next month onwards. Contributions can be made as late as April 15 of the following year. Contributions to the HSA in excess of the contribution limits must be withdrawn by the individual or be subject to an excise tax. The individual must pay income tax on the excess withdrawn amount.