Health Savings Accounts
- What Are Health Savings Accounts?
- Who Can Establish an HSA?
- How Much Can Be Contributed to an HSA?
- How Do You Establish an HSA?
- Who Can Make Contributions to an HSA?
- How Are Contributions Made to an HSA?
- Can You Make Contributions to an HSA if You Are Covered under an FSA or HRA?
- Can Your Contributions Earn Interest?
- How Are Contributions Taxed?
- How Are Distributions Taxed?
- What Are Qualified Medical Expenses?
- Are Rollovers Permitted?
- What Happens to Funds Remaining in Your HSA?
How Are Contributions Made to an HSA?
Tax-advantaged contributions can be made in three ways:
- You or your family can make tax deductible contributions to your HSA even if you do not itemize deductions on your federal income tax return.
- Your employer can make contributions that are not taxed to either you or your employer.
- Employers may allow employees to contribute untaxed salary through a salary reduction program.