Frequently Asked Questions

How do HSA contributions work and are there any limits?

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 LimitsSingle CoverageFamily Coverage
Contribution Limit (2022)$ 3,650$ 7,300
Contribution Limit (2021)$ 3,600$ 7,200
Contribution Limit (2020)$ 3,550$ 7,100
Contribution Limit (2019)$ 3,500$ 7,000
Additional Catch-up Contribution
(for those 55 and older)
$ 1,000$ 1,000

Contributions can be made at any time up until the tax filing deadline, typically April 15. For the 2020 tax year, additional extensions may be available.

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