HSA contribution question
Thread created 09-28-2022 by Dr. J
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10 Replies
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No. If taken directly out of your Paycheck, it reduces your Social Security and Medicare taxes.
HSA contribution question
Thread created 09-28-2022 by Dr. J
-1 Score
10 Replies
2,364 Views
Healthcare is a bitch. For some, but certainly not all, COBRA can help bridge that gap. It’s not free but the cost for a large employer with lots of covered employees will likely be a LOT less than...
HSA contribution question
Thread created 09-28-2022 by Dr. J
-1 Score
10 Replies
2,364 Views
That's actually more of an argument to retire early, or at least >>2 yrs prior to medicare enrollment, since the vast majority of people will have their highest earning years later in life. The...
HSA contribution question
Thread created 09-28-2022 by Dr. J
-1 Score
10 Replies
2,364 Views
401k contributions can be made on either a pretax or post tax basis. I know this from personal experience.
While payroll deductions make it convenient for things like SS, Medicare, state income...
HSA contribution question
Thread created 09-28-2022 by Dr. J
-1 Score
10 Replies
2,364 Views
Some pretax deductions are also captured not only by federal taxes but also other things like SS and medicare; I think 401k contributions are like that? (IOW, there is a benefit to using payroll...
HSA contribution question
Thread created 09-28-2022 by Dr. J
-1 Score
10 Replies
2,364 Views
Your HSA contributions aren’t limited to payroll deductions. If your wife has a direct deposit of her paycheck, it’s easy to do a simple direct contribution from that same account for the HSA...
HSA contribution question
Thread created 09-28-2022 by Dr. J
-1 Score
10 Replies
2,364 Views
yes you can usually go online and have a lump taken out of your next paycheck as a one time change.
HSA contribution question
Thread created 09-28-2022 by Dr. J
-1 Score
10 Replies
2,364 Views
I think it depends on your account provider. My current 401k and HSA are from the same provider, and both are straightforward to update online. Although it takes some time to kick in, so someone...
HSA contribution question
Thread created 09-28-2022 by Dr. J
-1 Score
10 Replies
2,364 Views
Filling out papers, handing them in, and having some HR person manually enter it in a system is rather stupid. Then, having to change it back in FY2023. Why the hell isn't HSA like 401k where it's...
HSA contribution question
Thread created 09-28-2022 by Dr. J
-1 Score
10 Replies
2,364 Views
You don't have to contribute through your paycheck. Instead, I'd recommend depositing a lump sum individually. I think you have until next April to complete it.
HSA contribution question
Thread created 09-28-2022 by Dr. J
-1 Score
10 Replies
2,364 Views
Long story short, while we usually max out our HSA, this year we've contributed $0 thus far.
Now, I could change my wife's paperwork such that the required amount is taken out of every check, but...
