What are the survivor benefits associated with my HSA?
Your HSA may transfer to your surviving spouse tax free, if you name them as your beneficiary. If you do not name a beneficiary, or if you name someone other than your spouse as your beneficiary, then the distribution will be taxable. How do I contribute to my HSA? You may contribute to your account through payroll deductions (if available), authorizing funds to be deducted form your designated bank account through electronic funds transfer (EFT), or you may make a lump sum contribution at any time, in any amount up to the maximum limit. Depending on your plan design, your contributions may be made before taxes and taken from your paycheck. If not, you can claim your total amount contributed for the year as a tax deduction when you file your income taxes. You receive tax advantages in any case. You have until April 15 of the following year to make HSA contributions for the current year. When will contributions to my account be available for withdrawal? HSA contributions will be availab
Upon the death of the account owner, any balance remaining in the account becomes the property of the individual named in the HSA instrument as the beneficiary of the account. If the account beneficiary is the surviving spouse, then the surviving spouse is subject to income tax only to the extent distributions from the HSA are not used for eligible medical expenses.
