Is it possible to have both an MSA and an HSA or more than one HSA? If so, how are contribution maximums affected?
Consumers have the ability to have both an MSA and HSA or more than one HSA, but it comes with some minor adjustments on how they can contribute. The total annual limit does not change, but the allocation on where they can put their funds is important. Related to an MSA, for a family plan, 75 percent of the annual deductible or the IRS maximum, whichever is lower, can be contributed into the MSA. For an individual plan the percentage of the annual deductible changes to 65 percent. The remainder up to the total limit can then be contributed into the HSA. If there is more than one HSA, the total amount contributed to both or either cannot be more than the IRS maximums. UMB is not able to give advice on how customers should allocate their funds between an MSA and HSA or between more than one HSA.