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Can employees contribute additional money to their VEBA account?

April 26, 2017account additional contribute employees money veba

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Can employees contribute additional money to their VEBA account?

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No. Additional contributions are not allowed at this time. However, congress is considering legislation that would allow for the creation of a Health Savings Account. This account would be similar to the Universitys Flexible Savings Account or a Personal IRA. It would allow taxpayers to put aside money on a tax free basis to cover health care related expenses. This is something to watch for in the future.