I have HSAs with a fair amount of money in them. I understand that when I turn 65 next year, I can't make any more contributions but I can keep the HSAs and still make tax-free withdrawals to pay for medical expenses.
My wife is younger than me and will still have high deductible insurance next year. Assuming I stop making contributions to my HSA at the end of this year, she can open an HSA in January and make a full year's contributions, right?
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It is not your age. You can not make a contribution to an HSA when you are enrolled in Medicare. E.g., if your Medicare Part A or Part B effective date will be July 1, 2019, you may only make contributions from Jan. to June.
The fact that you are married has no bearing on whether your spouse can open an HSA and contribute. Eligibility is based on whether she has a qualified HDHP and is not enrolled in Medicare.
In article you write:
I was under the impression that even though we're currently both under
65 and both have an HDHP, we only get one HSA deduction.
The 2019 Self-Only HSA contribution limit is $3500 and the Family HSA contribution limit is $7000. If your wife is in an HSA eligible health plan for all of 2019 she can open an HSA account and contribute up to $3500 (plus the $1000 catch-up contribution if she is over 55).
If couple has part of a year when both are HSA eligible and part of the year where only one spouse is HSA eligible prorating rules apply. Publication 969 has some information and the results from googling 'partial year hsa eligibility' might also be helpful.
Our college age daughter is also on her plan, so she should be able to contribute $7K+$1K I'd think, even with me on Medicare.
The logic of Rev. Rul. 2005-25
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