HSA/Medical

[MGC94]

If you file MFS can you still contribute to a family plan HSA $7,750 and if over 55 is it $1,000 each meaning you can put in $9,750?

Also, can you use Medicare premiums for self-employed health ins and add a supplemental ins as well to box 15 sch C? 

Thank you 

[qbteachmt]

"If you file MFS can you still contribute to a family plan HSA"

It goes by coverage:

https://www.irs.gov/instructions/i8889

"and if over 55 is it $1,000 each meaning you can put in $9,750?"

Into separate HSA accounts. The people are individually over 55, in other words. There is no such thing as a Joint HSA account. For instance, the older person had the HSA all along, and now the younger person also is over 55, so you open an account for them and put $1,000 there.

"Also, can you use Medicare premiums for self-employed health ins and add a supplemental ins as well to box 15 sch C?"

Form 1040.

[MGC94]

If he files MFS and puts the money, it's his acct and her acct can he write both of them off? 

$4,875 into his and $4,875 into hers? He needs the write off that's why I'm wondering 

"Also, can you use Medicare premiums for self-employed health ins and add a supplemental ins as well to box 15 sch C?"

I don't mean the 1040. What I am saying is a write off on the sch C self-employed health ins deduction. 

[sjrcpa]

They can divide the HSA deduction any way they want, except he can't deduct her over 55 50 $1,000.

If he has Medicare, is he allowed to have an HSA?

[qbteachmt]

"If he has Medicare, is he allowed to have an HSA?"

Yes. You can no longer contribute to it, but you can still have it and keep using it. You can research if your State allows a Medical Savings Account (which is not the same as FSA or Medicare savings), and it works nearly the same, but contributions are not Fed deductible. And there is at least one High Deductible Medicare supplemental plan (Medi-Gap) (don't know if it is in every market), but you still can't contribute to HSA with this option.

The $1,000 make up amount is triggered at 55.

[qbteachmt]

Oh, we skipped this part:

"I don't mean the 1040. What I am saying is a write off on the sch C self-employed health ins deduction."

Yes, that's what we all mean. For the owner: It isn't a business expense and doesn't go on Schedule C. It's a deduction on the 1040, up to the net on the Business. The rest, if any, carries over to A as Medical expense.

[BobKamman]

SEHI doesn't go on Schedule C but that's where you enter it using the ProSeries software.  

[qbteachmt]

"but that's where you enter it using the ProSeries software."

That's not where to see it, though. This was asked:

"Also, can you use Medicare premiums for self-employed health ins and add a supplemental ins as well to box 15 sch C?"

I assumed that is supposed to be Line 15, not box 15. This is what the IRS tells you about Line 15

"15 Insurance (other than health)"

and here:

https://www.irs.gov/instructions/i1040sc

"Do not include on line 14 any contributions you made on your behalf as a self-employed person to an accident and health plan. However, you may be able to deduct on Schedule 1 (Form 1040), line 17, the amount you paid for health insurance on behalf of yourself, your spouse, and dependents, even if you do not itemize your deductions. See the instructions for line 17, Schedule 1, contained within the Instructions for Form 1040."

[BobKamman]

Congratulations!  You've earned the Didactic Badge.