So, I have an HSA. How do I contribute?

Good news — if your HSA is offered as part of your benefits package through your employer, typically your employer will allow for automatic, tax-free (pre-tax) payroll deductions to contribute to your HSA. This comes in handy each month, so you don't forget to make a contribution on your own.

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About automatic payroll deductions…

If you're offered an HSA, you can sign up and make your election during your employer's open enrollment period. After you elect, the first step is to choose how much you'd like to set aside for the year. After choosing how much, this amount will be taken out of your paycheck through equal payroll deductions automatically. This money is not taxed, but you'll pay less in total taxes with each paycheck and the full amount can be used on eligible medical products and services.

About manual contributions…

If your employer doesn't allow for tax-free payroll deductions or if you are enrolled in a privately held HSA, you may contribute to your HSA by writing a check or by electronically transferring money. This is a unique feature of HSAs as compared to other tax-free healthcare accounts, as it functions very similarly to a personal savings account.Either way, when it comes to depositing funds, your HSA is no different than any other bank account. Plus, since money contributed is tax-free, you can deduct your contribution on your income tax return.