FAQs

HSA FAQs

What if I contribute more than the maximum allowed to my HSA?

You are allowed to withdraw the excess contributions until April 15 of the following year and pay no penalties. After April 15, the excess funds are subject to taxes and penalties.

Can I contribute stock to my HSA?

No, only cash contributions can be made to your HSA.

What are "catch-up" contributions?

Catch-up contributions are allowed contributions to your HSA beyond the annual maximum limit. You are eligible for catch-up contributions if you are age 55 or older. Catch-up contributions are allowed the calendar year you turn 55 as long as you are enrolled in an HDHP on or before December 1.

What is the maximum amount I can contribute to my HSA?

There are federal maximum amounts an individual and family can contribute to an HSA each year. Check with your plan administrator or Human Resources department for this year's maximum.

Can anyone else contribute to my HSA?

Contributions to your HSA can be made by you, your employer, a family member or any other person contributing on your behalf. When determining if you have met the maximum allowed contribution amount for a calendar year (January through December), contributions from all persons are counted together.

When can I make contributions to my HSA?

Contributions can be made to your account periodically throughout the year or in one lump sum. You may contribute to your HSA at any time during the tax year. The last day to make a contribution for a calendar year is April 15 of the following year.

I am covered under my spouse's low-deductible health plan. If I enroll in my employer's HDHP, am I eligible to participate in an HSA?

No, you are not eligible to participate in an HSA if you are covered under any other non-qualifying health plan.

Can my spouse and I have a joint HSA, similar to a joint checking account?

No, only one person can own an HSA. If you are both covered under an HDHP, you may each have your own HSA. Learn more about HSA contribution limits and special rules for married couples.

What if I cancel my HDHP coverage?

If you cancel your HDHP coverage, you are no longer allowed to contribute to your HSA. However, you can still use the funds in your HSA for qualified medical expenses.

What happens when I turn 65?

When you turn 65, you are eligible to enroll in Medicare. If you elect to enroll in Medicare or are automatically enrolled in Medicare Part A you can no longer contribute to your HSA. However, you are still allowed to pay for qualified medical expenses with money remaining in your HSA. At age 65, you are also allowed to make withdrawals from your HSA penalty-free, but you will pay income tax on withdrawals at that time.

Surency Login

Choose your Surency account type below to log in and access your account. Reimbursement accounts include FSA, DC FSA, LP FSA, HSA, HRA, Commuter, LSA, QSEHRA, Adoption Assistance, Travel Benefits, Direct Billing and Premium Only Plans.

Login