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Health Savings Account Tax Treatment

For federal income taxes, you can deduct from your adjusted gross income the total amount that you contributed to your HSA for that calendar year. This tax savings is allowed regardless of whether you itemize your deductions. However, medical expense deductions under Section 213 cannot also be deducted.

Like an IRA, contributions for a calendar year may be made at any time following the beginning of that calendar year and prior to the deadline for taxes for that year. If you file your taxes annually, then this deadline is generally April 15th of the following year.

To ensure compliance, please consult a qualified tax advisor.

Additional HSA Information

HSA Eligibility Requirements

HSA Contribution Limits

HSA Qualified Medical Expenses

Medical Savings Accounts

HSA for Graduate Students

"By switching from my traditional insurance plan to an HSA-compatible plan I save enough money to fund my Health Savings Account. It just makes sense."

Cindy Scobee  

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