Learn how to set up contributions to HSA plans.
Employers are responsible for determining an employee's eligibility and annual maximum for HSA contributions. Intuit does not automatically limit HSA annual maximum amounts, because HSA plans vary widely. Both the employer and the employee can contribute to the HSA. The contribution limits for 2019 are as follows:
- The maximum annual HSA contribution for an eligible individual with self-only coverage is $3,600 for 2021.
- For family coverage, the maximum annual HSA contribution is $7,200 for 2021.
- The catch-up contribution for individuals who are 55 or older is $1,000 for 2009 and all years going forward.
- Individuals eligible on the first day of the last month of the taxable year (December for most taxpayers) are allowed the full annual contribution (plus catch-up contribution, if 55 or older by year end). That's regardless of the number of months they were eligible during the year. For individuals not eligible on that date, both the HSA contribution and catch-up contribution apply pro rata based on the number of months the taxpayer was eligible during the year.
Set up employee HSA contributions
Setup employer HSA contributions
HSA contributions and W-2 forms
- If the employee has both an employee-deducted and company-contributed HSA, Box 12 on Form W-2 shows the total of the two amounts.
- On W-2 forms, your contributions to an employee's HSA are reported in Box 12. But excluded from federal wages and most state wages. The total company HSA contribution for the year is reported in box 12 of the employee's W-2 with code W.
- If your contributions are taxable at the state or local level, we include the amount in taxable state wages or local wages.
- The company HSA contribution amount isn't added to the employee's net pay. Employers are responsible for depositing the contribution with the HSA provider.
Does Intuit send payments to plan providers?
Intuit payroll services do not send employee withdrawn funds or company contributions to plan providers. This must be handled by the employer.