Contributions made by an eligible individual to an HSA are deductible by the eligible individual in determining adjusted gross income (i.e. above-the-line). The contributions are deductible whether or not the eligible individual itemizes deductions. However, the individual cannot also deduct the contributions as medical expense deductions under section 213.

In the case of an employee who is an eligible individual, employer contributions (provided they are within the limits) to the employee's HSA are treated as employer-provided coverage for medical expenses under an accident or health plan and are excludable from the employee's gross income. See similar questions...

Employer contributions to an employee's HSA are excludable from the employee's gross income, up to the maximum contribution limit for that employee. Although the employee cannot deduct the employer's HSA contributions, the contributions are not taxable to the employee nor are they subject to withholding from wages for income tax or other employment taxes. See similar questions...

Money you deposit in your HSA qualifies for an "above-the-line" deduction. If a relative or friend makes a gift contribution to your HSA, you still receive the tax deduction. However, you do not get tax breaks on the contributions your employer makes. See similar questions...

An HSA is generally exempt from tax. Earnings on amounts in an HSA are not included in gross income while held in the HSA. However, if an employee uses HSA funds for nonqualified expenses, the funds are taxable and are also subject to an additional penalty. See similar questions...

HSA contributions must be made in cash or its equivalent, including check or credit card. Rollovers or transfers of assets from an MSA or an FSA (through 2011) will also be accepted. Also, effective January 1, 2007, new rules allow for a one-time contribution to an HSA of amounts distributed from an Individual Retirement Account (IRA). The contribution must be made in a direct trustee-to-trustee transfer. See similar questions...

Contributions made by an eligible individual to an HSA are deductible by the eligible individual in determining adjusted gross income (i.e., “above-the-line”). The contributions are deductible whether or not the eligible individual itemizes their deductions. However, the individual cannot also deduct the contributions as medical expense deductions under section 213. See similar questions...

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. See similar questions...

No. The University's retirement plan does not provide for Contributions to be made on an after-tax basis. See similar questions...

Contributions to your HSA, up to the applicable maximum contribution, are deductible from your adjusted gross income, whether or not you itemize deductions. See similar questions...

Yes. You do not have to wait for open enrollment to make changes to your 403(b). To make changes, you have to submit a completed Salary Reduction Agreement Form [SRA]. See similar questions...

A Health Savings Account (HSA) is an investment account from which you can draw money tax-free for medical care. HSAs are owned by the individual and grow through investments, similar to an IRA. HSAs have favorable tax treatment for contributions, distributions and earnings. They are available to individuals covered by a high deductible health plan (HDHP) and can be established to pay for family medical expenses. See similar questions...