This is a YouTube video titled "Multiple HSA Family Contributions" posted in May 2024, featuring a speaker discussing health savings account (HSA) contributions for adult children covered under a high deductible health plan. The content focuses on personal finance strategies related to maximizing HSA contributions for family members.
If you have a child over 19, but under 26, and they are covered under your high deductible health plan and no other plan, they or you are allowed to contribute to a health savings account. This is in addition to your own family contribution to a health savings account. They can make their own contribution to their own health savings account, or you can do it for them. And you can contribute the family amount. Yeah. Wild, right? $8,300 in 2024. You can put into your own HSA, and you can put it into your adult child's HSA and your other adult child's HSA. I mean, pretty soon I'm going to have three kids between 19 and 26, so I could make four HSA contributions. And you can help them start their lives out with a substantial HSA triple tax free account that can then compound tax free for decades. Pretty co.
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