Can I contribute to my existing HSA that was established with my former employer that my COBRA is attached to? I can contribute, is it ok to add money into the HSA and then pay the COBRA premium?
Yes you can contribute to your health savings account, but it will be using your taxed income. A contribution to your HSA can’t come out of that previous employer’s paycheck to you, which would make it pre-taxed. You may also pay your COBRA premium with the HSA.
Short-Term Medical Options
When you elect COBRA through your previous employer, you end up paying the whole premium. There are short-term medical insurance options available. Call 877-262-7241 for alternative plans to COBRA insurance.