HSAs are open to almost everyone with an HSA-eligible high-deductible health plan. Eligible and qualified individuals, employees and employers may contribute to an HSA. In addition, contributions can be made by others on behalf of the individual covered by the HSA-eligible high-deductible health plan with the contributions deductible by the covered individual (May 15, 2004, Treasury Guideline).

Anyone can contribute to an eligible individual's HSA; however, it is the individual account holder's responsibility to ensure HSA contributions do not exceed maximum limits.

much or as little as you want (while staying below the legal limit on the account of $2,850 for employees with self-only coverage or $5,650 for employees with family coverage in 2007).

You, your employer or others can contribute to your HSA account through a payroll deduction(s) or as a lump sum deposit.* You can contribute as often as you like, provided the annual contribution limits do not exceed: $2,850 for individual coverage or $5,650 for family coverage Individuals that are age 55 or older may be eligible to make additional contributions.

As much or as little as you want (while staying below the legal limit on the account of $2,850* or $5,650* for employees with family coverage). *These amounts are for 2007. They are indexed annually for inflation.

Great news! Effective January 1, 2007, the rules now allow greater employer contributions for lower-paid employees. Previously, employer contributions under the comparability rules had to be the same amount or percentage of the deductible for all employees with the same category of coverage. Consequently, employers could not contribute higher amounts to lower-paid employees.

For 2007, the maximum you may contribute to a Health Savings Account (HSA) is $2,850 for single coverage or $5,650 for family coverage. For 2008, the maximum you may contribute to a Health Savings Account (HSA) is $2900 for single coverage or $5800 for family coverage. Minimum HDHP deductibles are $1,100 for individuals and $2,200 for families.

The filing date of the current year tax return. Normally April 15th unless you file for an extension. The contribution limit is based on the lowest deductible amount. It is then divided equally between the spouses unless they agree on a different division.

Each administrator has different fees. Some charge account set up fees. In addition some banks may charge minimal monthly maintenence fees.

Please refer to your employer's plan documents for the minimum monthly contribution. In general, the monthly minimum contribution is $20.

The maximum amount you can contribute into your HSA is IRS contribution limit ($2,850 for single coverage and $5,650 for family coverage in 2007), whichever is lower. You might also be allowed to make a catch up contribution up to $800 if you are over age 55. The SHPS HSA contribution calculator can help you determine how much to contribute.