How Often Can I Change My HSA Contribution as an NYU Employee?

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

When you can change HSA contributions

Many NYU employees wonder how often they can change their HSA contribution. It's important to know that you have the flexibility to adjust your HSA contributions at any time during the year, not just during open enrollment periods. This means that if your financial situation changes, you can increase or decrease your contributions accordingly.

As an NYU employee, you have the unique ability to change your Health Savings Account (HSA) contributions whenever you need to. This flexibility ensures that you can tailor your contributions to match your evolving health care costs and financial situation throughout the year.

Annual limits and employee action steps

However, it's essential to keep in mind that there are limits to how much you can contribute to your HSA each year. For 2021, the annual contribution limit for individuals is $3,600, and for families, it's $7,200. If you are 55 or older, you can also make an additional $1,000 catch-up contribution.

Here are some key points to consider when changing your HSA contribution as an NYU employee:

• You can adjust your HSA contributions at any time during the year.
• Changes to your contributions will take effect in the following paycheck once processed.
• Be mindful of the annual contribution limits to avoid exceeding the allowed amount.
• If you have any questions or need assistance with changing your HSA contribution, reach out to your HR department or HSA provider for guidance.