Our company's health insurance is through United Healthcare - Allsavers Division. The cover letter on the 5498-SA that we receive from the HSA Bank clearly states "The enclosed IRS tax form 5498-SA shows your contributions for tax year 2019 to your HSA account. Please use this information to fill out IRS tax form 8889 which is what you'll need to submit your taxes."
United Healthcare - Allsavers Division offers an exercise program to participating employees. The employees can earn up to $3/day by meeting exercise goals. Quarterly, the monies earned from meeting these goals are deposited directly into the employee's HSA accounts with no visibility to us as the employer. These amounts are then included on 5498-SA that our employees receive from the HSA bank.
Therefore, our employees W-2 box 12-W does not agree with their 5498-SA with the difference typically being the amounts earned through the exercise program which can be up to almost $1100/year and twice that if the employee's spouse participates. I believe that these exercise program monies are required to be included in the amounts reported to the IRS?
It would seem that TurboTax needs to accommodate this type of situation by creating steps for taxpayers to input their 5498-SA and adding the information to IRS form 8889 ?
