Tax qualified employer contributions are reported in box 12 of Form W2 with code W. Employee contributions are reported the same as regular wages and subject to income tax withholding, social security and Medicare taxes.

All contributions to an HSA must be made in cash or via MSA or HSA rollover. Unlike regular contributions, rollover contributions do not need to be in cash and are not subject to the annual contributions limits. Rollovers from an IRA, 401(k) plan, an health reimbursement account or FSA are not allowed.

This is a statement from your employer of how much money you have earned, and how much Federal, State, Local, Social Security and Medicare taxes have been deducted on your behalf. Your employer should send this to you the year after your employment. For example, if you work during 2001, you will receive your W2 during 2002.

Contributions to an HSA must be made in cash. For example, contributions may not be made in the form of stock or other property. Payments for the HDHP and contributions to the HSA can be made through a cafeteria plan.

Starting in 2007, many Federal employees who are enrolled in HDHPs became eligible to make pre-tax allotments to their HSAs through The Federal Flexible Benefits Plan (FEDFLEX). For more information select this link. Your own HSA contributions are either tax-deductible or pre-tax (if made by payroll deduction). See IRS Publication 969 .

HSA must be established and contributions must be made by the eligible individual's tax return due date for the year - not including extensions. HSA contribution form: Financial organizations accepting HSA contributions must keep records of such contributions. PrincipalTrust's partners will supply contribution information for our records. Contributions other than rollovers must be in cash. Assets from Archer MSAs and other HSAs may be rolled over in cash or in-kind to an HSA.

Contributions to an HSA can be made through April 15 of the following year. For example, contributions for 2006 can be made through April 15, 2007.

quot;Premium pass through" payments are not considered income, and you can not deduct them on your income tax return. Starting in 2007, many Federal employees who are enrolled in HDHPs are eligible to make pre-tax allotments to their HSAs through The Federal Flexible Benefits Plan (FEDFLEX). For more information select this link.

No, you can contribute in a lump sum or in any amounts or frequency you wish. However, keep in mind that the funds belong to the employee after they are deposited.

HSA contributions are available for withdrawal as funds are deposited. The availability of funds is dependent upon how funds are contributed (payroll deduction, bank transfer or periodic, lump sum contributions). (close)

Yes. Contributions you make with pre-tax dollars are not considered taxable income. You may deduct any post-tax contributions you make to your HSA, from your taxable income on your tax return. (close)

If you are 55 or older, or reach the age of 55 during the calendar year, you can make "catch-up" contributions to your HSA. The "catch-up" contribution maximum is $800 for 2007. (close)

Contributions in a money market account in an HSA are insured just like a bank savings account. Contributions invested in stocks, bonds, mutual funds, or other vehicles, are subject to investment risk. (close)

Originally, HSA contributions were limited by the maximum set by the IRS or your annual deductible, whichever was less. However, as of January 1, 2007, maximum contributions are no longer tied to your deductible. That means you may contribute up to the annual limit set by the IRS.(close) Yes. Beginning January 1, 2007, partial-year enrollees no longer need to pro-rate their contributions based on their enrollment dates.

Any contributions you make to your HSA (subject to the contribution limits) are tax-deductible regardless of whether you itemize deductions. However, you cannot also deduct the contributions as medical expense deductions under section 213(d). We recommend that you check with your tax advisor for additional details regarding the tax treatment of HSAs.