Can My Partnership Make HSA Contribution in 2017?

Check eligibility on the go — browse 7,000+ HSA-eligible products in the free app.

Partnerships can’t contribute to partners’ HSAs

As a partner in a partnership, you may be wondering if your business entity can make HSA contributions on your behalf in 2017. The short answer is no, partnerships cannot make HSA contributions for their partners directly. However, partners themselves can make HSA contributions as individuals, subject to certain rules and limitations.

Here are some key points to consider regarding HSA contributions for partners in a partnership:

How partners can contribute as individuals in 2017

• Partnerships are not eligible to contribute to HSAs on behalf of partners
• Partners can make HSA contributions as individuals, provided they meet the eligibility requirements
• For 2017, the maximum HSA contribution limit for individuals is $3,400 for self-only coverage and $6,750 for family coverage
• Individuals aged 55 and older can make an additional catch-up contribution of $1,000
• Partnerships may offer high deductible health plans (HDHPs) that qualify for HSA eligibility

While partnerships cannot make direct HSA contributions for partners, individual partners can contribute to their HSAs if they meet the necessary criteria. It's important to consult with a tax advisor or financial planner to ensure compliance with HSA rules and regulations.

As a partner in a partnership, it’s natural to have questions about HSA contributions, especially in 2017. Unfortunately, the system doesn’t allow partnerships to contribute directly to HSAs on behalf of their partners. Instead, partners can make their own HSA contributions as long as they fulfill the necessary eligibility criteria.