Get Hsa Contribution Form Template

You can change the amount you contribute to your HSA at any time during the plan year. If you are changing the amount contributed via payroll on a pre-tax basis, check with your employer. You can also make non-payroll contributions changes using the Contribution Center in your online account.

Any eligible individual can contribute to an HSA. For an employee's HSA, the employee, the employee's employer, or both may contribute to the employee's HSA in the same year. For an HSA established by a self-employed (or unemployed) individual, the individual can contribute.

File Form 8889 to: Report health savings account (HSA) contributions (including those made on your behalf and employer contributions). Figure your HSA deduction. Report distributions from HSAs.

You can add money to your HSA in one of two ways: Automatic payroll deductions: Funds are moved from your paycheck, tax-free, into an HSA. Direct contributions: You can choose to add funds to your HSA at any time. While these contributions aren't tax-free, they can be deducted on your tax return.

Can I change my contribution amount? Yes, HSA contributions can be adjusted at any time. As an employer, you may offer a payroll deduction option so employees can contribute on a pre-tax basis.

Usually, your HSA contribution is reported in box 12 of your W-2 with the code W (Company Contributions to Health Savings Account). TurboTax automatically records this amount in the 1099-SA, HSA, MSA section. Code W reports the combined contributions from you and your employer.

To submit changes, go to Workday > Benefits worklet > Change Benefits > select the appropriate qualifying event type: Select Beneficiary Change, HSA Contribution Change, or Divorce/Legal Separation/Dissolution of Domestic Partnership if applicable.

Outside of an open enrollment period, if you're funding your HSA through payroll deductions, you're only allowed to make changes to your contributions if you experience a qualifying life event (QLE), if your plan allows for it.

Update your contributions to your HSA | ADP Intro. Click on the Myself button. Click on the Enrollments button. Click CONTINUE ENROLLMENT. Click CONTINUE. Click the option that makes sense for you. Update to what you'd like the contribution amount to be. Click CONTINUE TO PREVIEW. Click SAVE AND CONTINUE TO NEXT BENEFIT.