How are contributions made to my HSA account?


Contributions can be made by you, your employer or both. However, the total contributions are limited annually. There are two ways you can contribute to your HSA account:

  1. Do the paperwork – send your contribution to the bank. You’ve paid taxes on this money already so you’ll have to deduct this amount when you file your taxes.
  2. Skip the paperwork – Avoid the taxes and have your employer deduct your contribution pre-tax from your paycheck. They will forward your contribution to the bank. Your contributions are tax-free so there’s no need to worry about deducting on your taxes.