Health Savings Accounts: How and When a Participant Should Make a Contribution
- Learn before the beginning of the plan year the amount and timing of your employer contribution so that you can plan your personal contributions accordingly.
- Plan to make pre-tax payroll contributions if your employer offers a Cafeteria Plan. You should begin the discipline of regular HSA deposits. Check to see whether your employer has set up a negative election. Most do not, but some do.
- Review your contributions before the end of the calendar year to make sure that you have not made an excess contribution (and correct the excess contribution if you have made one. (Xerox HR Insights)
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