re: Question for CPA's about health Savings Accounts

You can't contribute to an HSA if you don't have an HDHP-eligible plan. The measurement is on a monthly basis.

Penalty would be having to recoup the contributions in income and an additional penalty of 10%.

However, once the money is in the HSA, you can use it for any eligible health expenses even if you no longer have an eligible plan at the time of distribution.

Does your company offer a medical FSA? that's an option although not nearly as nice as HSA.