Your HSA can be funded in several ways, depending on your employment and banking setup:
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Through your employer: If your employer partners directly with Lively, contributions can be pulled automatically from payroll deductions (your contributions) and employer contributions.
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Through your employer via ACH: If your employer does not work directly with an HSA provider but allows you to choose your own, you can provide them with your Lively account and routing number so they can push contributions electronically.
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Through direct contributions: If you are making contributions on your own, you can link an external checking or savings account and transfer funds directly into your HSA. You also have the option to schedule one-time contributions or set up recurring monthly contributions.
There are also non-traditional funding methods:
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IRA to HSA transfer: This can be done once in a lifetime, counts toward your annual contribution limit, and requires that you are HSA-eligible during the year of the transfer.
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HSA rollover or trustee-to-trustee transfer: This allows you to move existing HSA funds from another provider into your Lively HSA, and does not count towards your annual contribution limit.
No matter how contributions are made, Lively will provide you with an IRS Form 5498-SA, which reports the total amount contributed to your account.
Source: Internal Revenue Code 223, Health Savings Accounts
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