Contributions can be made by you, your employer or a third party (e.g. family member or friend).
Contributions can either be made on a tax-free basis through a Section 125 Plan or directly into the account on a tax-deductible basis. The IRS sets the maximum annual contribution limit. Generally, HSA contributions do not have to be prorated; however, certain exceptions and conditions apply.
|IRS Contribution Limits||Single Coverage||Family Coverage|
|Contribution Limit (2018)||$ 3,450||$ 6,850*|
|Contribution Limit (2017)||$ 3,400||$ 6,750|
|Additional Catch-up Contribution
(for those 55 and older)
|$ 1,000||$ 1,000|
Contributions can be made at anytime up until the tax filing deadline, typically April 15.
*Note: The 2018 HSA Contribution Family Maximum was adjusted downward from $6,900 to $6,850 on March 5, 2018 as a result of IRS Revenue Bulletin 2018-10.