Can I and My Employer Put Money Into a HSA?

Yes, you and your employer can both contribute money to a Health Savings Account (HSA). HSAs are a tax-advantaged account that is used to save and pay for qualified medical expenses.

Here's how you and your employer can contribute to an HSA:

• Employee Contributions: Employees can contribute to their HSA through payroll deductions, similar to a 401(k) or other retirement account. The contributions go into the HSA tax-free and can be used to pay for qualified medical expenses.
• Employer Contributions: Employers can also contribute to an employee's HSA. These contributions are tax-deductible for the employer and tax-free for the employee. Employer contributions are a great benefit that can help boost your HSA savings.

Absolutely! Both you and your employer can contribute to a Health Savings Account (HSA), making it an excellent way to save on healthcare costs while enjoying tax benefits. HSAs are unique because they allow funds to grow tax-free, making them a potent tool for managing medical expenses.