MAXIMUM HSA CONTRIBUTION FOR 2007
Q: I enrolled in a HDHP effective June 1, 2007 and am eligible to participate in a HSA. Based on the annual individual contribution allowed of $2,850, I assume I can only contribute 50% of that amount or $1,425 for the CY 2007.
A: No because for tax years starting in 2007 the maximum tax deduction is no longer based on the length of time you are enrolled in a HDHP. See the FAQ titles "Tax2" and "Tax3" at http://healthsavingsaccount-hsa.com/FAQ.htm#Tax%20Issues for more information.