HSA Funding

[Guest benefitsanalyst]

We may have deposited too much in an employee's (or several employees) HSA accounts for a specific pay period. Since the HSA accounts are individually owned, I don't think the funds can be taken out of the account. Does anyone know if we can offset the incorrect amount with future contributions?

Thanks for any help.

[Guest greatlakeshsa]

Yes, as long as your treat all employees the same. (if you over funded last quarter by $100, then you would need to make the same adjustment to all effected employees)

[leevena]

We may have deposited too much in an employee's (or several employees) HSA accounts for a specific pay period. Since the HSA accounts are individually owned, I don't think the funds can be taken out of the account. Does anyone know if we can offset the incorrect amount with future contributions?

Thanks for any help.

There are ways you can get the money back, but to do so the deposits would have had to be made to an employee who was never in an HSA or if the funds exceeded the statutory maximum amounts. It appears from your post that you may have deposited too much on a per pay period, meaning the employee gets $1,200 per year, and you deposit $100 per month, but this past pay period you deposited $150. If this is the case, there is no need to recoup, just adjust your next deposit.

Did this answer your question?

[Guest benefitsanalyst]

Yes, thanks. We were thinking we could just adjust our next deposit. For example, an employee contributed $100 for the last pay period and we deposited $200 ($100 too much). With the next pay period we will just offset it by $100.

Thanks again.