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Questions & Answers (FAQ)
The categories of Frequently Asked Questions (FAQs) can be found to the right. Simply click on one of the questions below or a category to the right.
76 questions found in
'Health Savings Accounts' | Showing 1-10 Of 76 |
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• How are contributions treated for partners in a partnership or limited liability company (LLC)?
Partners in a partnership or LLC cannot make pre-tax contributions to their HSAs through the partnership by salary reduction. However, they can make their own personal c...
Rating : Not rated Views : 862 Last Update : 2007-09-12
| • How are contributions treated for owners and shareholders of S corps?
Owners and officers with greater than 2% share of a Subchapter S corporation cannot make pre-tax contributions to their HSAs through the company by salary reduction. In ...
Rating : Not rated Views : 1174 Last Update : 2007-09-12
| • I don't offer health insurance, but some of my employees have opened HSAs and I'd like to help them out, what can I do?
Your company can make pre-tax contributions to your employees'' HSAs as long as you do so for all eligible employees. However, the comparability rules apply. If yo...
Rating : Not rated Views : 1140 Last Update : 2007-09-12
| • Our company wants to offer "matching" contributions, can we do that?
Yes, but your company can only offer "matching" contributions through a Section 125 plan. Remember that the non-discrimination rules still apply.
(source: U.S...
Rating : Not rated Views : 638 Last Update : 2007-09-12
| • Our company offers benefits through a Section 125 plan, do contributions have to be comparable under these plans as well?
Section 125 plans (also known as "salary reduction" or "cafeteria" plans) must meet a different set of rules. Under these plans, contributions (both ...
Rating : Not rated Views : 586 Last Update : 2007-09-12
| • As an employer, do I have to contribute the same amount to every employee's HSA?
Employer contributions must be "comparable", that is they must be in the same dollar amount or same percentage of the employee's deductible for all employees with th...
Rating : Not rated Views : 331 Last Update : 2007-09-12
| • Do HSA contributions have to be made in equal amounts each month?
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.
(sou...
Rating : Not rated Views : 295 Last Update : 2007-09-12
| • How much do I have to contribute to my employees' HSA, as an employer?
As much or as little as you want (while staying below the legal limit on the account of $2,900 for employees with self-only coverage or $5,800 for employees with family covera...
Rating : Not rated Views : 280 Last Update : 2007-09-12
| • My employees want to contribute to their HSAs but want to make sure they get a tax benefit out of doing so. How does that work?
Employee contributions can be made to HSAs on either after-tax or pre-tax basis. If made on an after-tax basis they should be counted as an above-the-line deduction on their t...
Rating : Not rated Views : 255 Last Update : 2007-09-12
| • As an employer, do I own my employees' HSAs? Can I control how they spend the money in them?
No, you do not own your employees' HSAs. The employee fully owns the contributions to the account as soon as they are deposited, just as with a personal checking or savings ac...
Rating : Not rated Views : 270 Last Update : 2007-09-12
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