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Watch: How Pre-Tax Contributions Work.
Frequently Asked Questions
- Can employee pretax HSA contributions be changed throughout the year?
Yes. Eligibility requirements and contribution limits for HSAs are determined on a month-by-month basis. You can start or stop contributing or increase or decrease the amount at any time, if the change is made after the change request is received.
- Can I contribute to an HSA at the same time as an FSA and/or HRA?
You can contribute to an HSA while covered by the following types of medical FSAs and/or HRAs:
- Limited purpose FSA and/or HRA
- Suspended HRA
- Post-deductible FSA and/or HRA
- Retirement HRA
You cannot contribute to an HSA while covered by the following types of medical FSAs:
- A general purpose medical FSA that pays for all eligible expenses
- A general purpose medical FSA with a grace period (unless the FSA has a $0 balance at the end of the plan year)
- Do both employer and employee contributions count toward the annual contribution maximum?
- Yes. Both employer and employee contributions are combined with calculating the maximum.
- For new HSAs, are maximum contributions prorated on a monthly basis?
- Annual HSA contributions for new HSAs are not prorated on a monthly basis as long as you are HSA- eligible on December 1 and maintain HDHP coverage throughout the subsequent 13-month testing period. The testing period begins on December 1 in the year the qualified HDHP coverage is obtained and runs through December 31 of the following year. The testing period is also called the “13-month rule.” Enrolling in an HDHP and establishing an HSA any time after January 1 triggers the “testing period” if you contribute the maximum amount to your HSA. If you do not satisfy the 13-month rule, contribution limits are prorated and tax consequences apply. See Chapter 5, Section 1.2 on page 37 for examples of pro-rated maximum contribution amounts.