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  • HSA Question

    Hello All,

    I have a quick question regarding HSAs. My group currently has a HDHP/HSA plan. I dont recall who is the HSA provider. I opened my own HSA with HSA bank. I also funded the account to the maximum using my own funds ( I did not have these funds taken directly out of my paycheck).

    Is it OK to have opened my own HSA account with HSA bank, even if it is not the group's designated HSA provider?

    Is it OK that I funded the account with my own after-tax dollars? Can I reclaim the tax break when I file my 2016 taxes? I realize I will not receive the FICA tax benefits.

    As always, thanks for your input.

  • #2
    Yes to all, but some arrangements like that will only do employer contributions and/or payroll deduction to the HSA if it's a part of the employer plan.

    You're not limited to one single HSA, though. You don't have to give up your old one if you want a new one with employer contributions. You're still capped at $6,750 from all sources to all HSAs, though, so if you've already done that this calendar year, just wait until January.

    Report all HSA contributions on your form 8889 and claim any you made yourself as a deduction on your form 1040.

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    • #3




      Hello All,

      I have a quick question regarding HSAs. My group currently has a HDHP/HSA plan. I dont recall who is the HSA provider. I opened my own HSA with HSA bank. I also funded the account to the maximum using my own funds ( I did not have these funds taken directly out of my paycheck).

      Is it OK to have opened my own HSA account with HSA bank, even if it is not the group’s designated HSA provider?

      Is it OK that I funded the account with my own after-tax dollars? Can I reclaim the tax break when I file my 2016 taxes? I realize I will not receive the FICA tax benefits.

      As always, thanks for your input.
      Click to expand...


      Of course. Just be sure you don't go over the combined max limit for your family. Realize the always brilliant @DMFA has already answered, so I'm simply backing him up :-)
      Working to protect good doctors from bad advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

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