HSA Electronic Transfers: A Comprehensive Guide

Navigating the world of Health Savings Accounts (HSAs) can sometimes feel a bit complex, but we're here to simplify things for you. Let's dive into how you can set up electronic contributions for your HSA.

Written by Taylor Byas

Updated 7 months ago

First Things First: Are You Eligible?

In order to make any contributions to your HSA, you must be enrolled in a High Deductible Health Plan (HDHP). If you have any other health plan that's not an HDHP, unfortunately, you won't be in line with IRS regulations for HSA contributions.

How Can You Contribute?

There are two ways that you can contribute to your HSA:

1. Through your Employer: If you've recently started with a new employer or switched jobs, you can use your Ameriflex HSA account and routing number for direct transfers. Just remember the HDHP requirement.

Note: If your employer requires a bank letter to set up direct deposits, please contact our support team to obtain one.

Personal Contributions: You can also add post-tax dollars from your personal bank accounts to your HSA. While these funds have already been taxed, you can claim these contributions as deductions during tax time, effectively getting your tax back. Remember, the HDHP rule still applies.

Note: Regardless of how you contribute, the same maximum contribution limits apply.

Finding Your HSA Account and Routing Number

If you're unsure about your account details, follow these instructions:

1. Log into your Ameriflex portal.

2. From the homepage, click on the More Details button next to your HSA balance.

3. In the pop-up box, your account and routing number will be partially displayed towards the bottom. Simply click on the numbers to fully reveal them.

What's Next?

Once you have your account details, share this information with your new employer or your bank to initiate fund transfers.

Note: If you face any challenges initiating a transfer with your bank, it's best to reach out to their customer support for assistance.

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