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HSA 101: Contributing to Your HSA
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Frequently asked questions

The HSA owner
The HSA owner’s family members
The HSA owner’s employer
Any other person including a “non-individual”

Yes. An individual may contribute to his/her HSA outside of payroll deductions by contributing online or by mail. (See “How are contributions made?”) However, they should be sure to monitor their contributions to ensure they do not exceed IRS annual contribution limits.

The deadline for contributions is the federal income tax deadline, generally on April 15 each year.

Medicare enrollment is what disqualifies an individual from being eligible to contribute to his/her HSA. Eligibility alone doesn’t impact their being able to contribute to their HSA. *Please note that an individual cannot opt out of Medicare Part A without opting out of all Social Security benefits.

Contributions can be made online, via pre-tax payroll deduction or by mail.

  • To contribute online, accountholders should log into their account, then click the “Schedule Contribution” icon. Next, they should fill in their contribution details and banking information, then click “Submit.” To save their banking information for next time, they can go to “My Profile” and click “Bank Information.” Then, they should click “Add a bank account,” enter their information, then click “Save.”
  • To contribute via pre-tax payroll deduction, accountholders should contact their employer. If their employer has a Section 125 Cafeteria Plan, they should be able to deduct your contributions from accountholders’ paycheck on a pre-tax basis, which decreases their taxable income.
  • To contribute by mail, accountholders should download and complete the Contribution Form, then mail their check made payable to FPS Trust to: FPS Trust on behalf of HealthSavings, P.O. Box 3079, Englewood, CO 80155.

Individuals should allow up to 10 business days for accessing their first contribution. After we have verified their account and processed their first contribution, we will process future contributions more quickly. (3-4 business days for ACH pulls and 2-3 business days for wires.)

To transfer funds from another HSA:

  • Complete our Transfer/Rollover Request Form. After completing and returning the form, accountholders should allow 4–6 weeks for their transfer request to be completed.
  • When we receive the transferred funds, the money will be allocated according to the accountholder’s investment elections. If you have not set up their elections, the money will remain in their cash account until they decide to transfer funds to their investments.

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