Question: Do I need to make an employee contribution to the HSA account to receive the employer seed money?
Answer: No, you do not need to contribute to the HSA to receive the seed money from the health system. The health system contributes to the HSA funds of employees who select the HSA Advantage Plan for medical coverage. For 2022, the health system doubled its contribution to $500 for employee-only coverage and $1,000 for employee plus any combination of family members.
You may choose to contribute $0 or any other amount up to the IRS contribution limit. In 2022, the IRS contribution limit is $3,650 for an individual and $7,300 for a family. Employees 55 and older may contribute an extra $1,000. Note that the IRS maximum contribution is for the total contribution made to your account by both you and the health system.
Question: When will I receive the employer seed into my HSA?
Answer: The health system will make the deposit to your account on January 1, 2022.
