Can we make voluntary contributions to the HSA via payroll deduction?
We suggest you check with your agency. Agencies have procedures for having voluntary contributions withheld from employees’ salary but procedures and capacity vary by agency. Can I contribute to another person’s HSA? Yes, anyone can contribute to an HSA. However, the tax benefit from such a contribution is gained by the person receiving the contribution, not to the person giving the contribution. The FAQ said that generally the annual limit for contributions to the HSA would be the plan deductible. Since the term “generally” was used, how would we determine exactly what our yearly limit would be? Under IRS guidelines, the annual limit for contributions to the HSA is the plan’s deductible up to a maximum amount established by law. None of the plans participating in the FEHB Program have annual deductibles exceeding the legal maximum. However, the plan will pay its share of this amount and the enrollee may make voluntary contributions up to the maximum amount. You must be eligible at the
Related Questions
- Is a deduction under section 223(a) for contributions to a self-employed individual’s own HSA taken into account in determining net earnings from self-employment under section 1402(a)?
- I understand that contributions I make through payroll deduction continue until I cancel or change the donation in writing. How do I make changes to my current payroll deduction?
- Can we make voluntary contributions to the HSA via payroll deduction?
