HSA Explanation

[ArizonaSCorp]

Hello,

Have been thinking about an HSA (currently have std insurance) and was hoping to get some clarification on how to handle it accounting wise.

Currently, Scorp pays my insurance.  I add it it my w2 in box 1 and claim it as income, taking the above the line deduction on my personal return.

With an HSA, I understand that the Scorp cannot pay contributions directly (don't know if I am wording that correctly) but that personally, I can contribute to my HSA and still take that as an above the line deduction?

The other question is, can the Scorp pay the HSA premium, and be dealt with the same way as my standard insurance that I currently have? 

1.  Scorp Pays HSA Premium of $xxx per month - can deduct this premium as an expense and add to Box 1 of W2 wages, but can be taken as an above the line deduction on personal tax return?

2.  Personally pay contributions to HSA - and take personal contributions as an above the line deduction?

3.  Scorp premium + Personal contributions combined and taken as an above the line deduction?

[RobertB4444]

Yes.  The S-Corp can pay your premium and it would be treated the same as your current insurance premiums.  The S-Corp can also contribute to your HSA and enter it as compensation on your W2 which is then not taxed by virtue of depositing it in your HSA.  

Here's an IRS article on contributions to HSAs.

But you are correct in all of your assumptions.

@ArizonaSCorp