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styfle123
Level 1

I have existing Health Savings Account (HSA) for pre-tax contributions. My new employer has HDHP but no HSA. Can I contribute post-tax to HSA and still get tax benefit?

 
6 Replies
TomD8
Level 15

I have existing Health Savings Account (HSA) for pre-tax contributions. My new employer has HDHP but no HSA. Can I contribute post-tax to HSA and still get tax benefit?

-DEL-

**Answers are correct to the best of my ability but do not constitute tax or legal advice.
Critter
Level 15

I have existing Health Savings Account (HSA) for pre-tax contributions. My new employer has HDHP but no HSA. Can I contribute post-tax to HSA and still get tax benefit?

Poster indicated the new employer DOES have a HDHP  but has not set up an HSA ... so YES you can make a contribution to the HSA you already have outside of work and you will get the deduction(benefit) on your return.  

TomD8
Level 15

I have existing Health Savings Account (HSA) for pre-tax contributions. My new employer has HDHP but no HSA. Can I contribute post-tax to HSA and still get tax benefit?

@Critter -- Thanks for the correction.  Misread the question.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.
styfle123
Level 1

I have existing Health Savings Account (HSA) for pre-tax contributions. My new employer has HDHP but no HSA. Can I contribute post-tax to HSA and still get tax benefit?

@Critter  Thanks for the reply!

 

you will get the deduction(benefit) on your return. 

 

Can you explain a little more about this?

 

I found that I can connect my personal checking account to the HSA and make a post-tax contribution.

 

However, it's not clear how to get the deduction on my tax return. Do I need to request a specific form from my HSA provider? Thanks!

styfle123
Level 1

I have existing Health Savings Account (HSA) for pre-tax contributions. My new employer has HDHP but no HSA. Can I contribute post-tax to HSA and still get tax benefit?

I answered my own question.

 

Yes, after-tax contributions are deductible from your income.

 

You take the deduction using form 8889 and you get the deduction for after-tax contributions on line 25 of your 1040.

 

However, this only seems to be available if you are itemizing your deductions. The current standard deduction is $24,400 for married filing jointly so this means that I would need to somehow haver enough deductions to exceed that in order to make contributing to the HSA worth it. Otherwise, I might as well put it in a normal savings account without any restrictions.

JosephF8
Expert Alumni

I have existing Health Savings Account (HSA) for pre-tax contributions. My new employer has HDHP but no HSA. Can I contribute post-tax to HSA and still get tax benefit?

This would be an adjustment to income. Reported on Form 8889 as you state which flows to Schedule 1, Line 12. Eventually it shows on your 1040 on line 8a.

 

What is Form 8889

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