The ABC's of your HSA
4th Quarter, 2015
2016 CONTRIBUTION LIMITS
The IRS has released the 2016 HSA contribution limits:

IndividualFamily
HSA Contribution Limit$3,350$6,750
HSA Catch-up Contribution (age 55 or older)
$1,000
$1,000

HSA INVESTMENT OPTION COMING SOON
For long-term savers who have accumulated higher balances a new HSA Investment option is coming and will be available early 2016. More details will be on our website as they become available.

INVESTMENT PRODUCTS AND SERVICES: ARE NOT FDIC INSURED, HAVE NO BANK GUARANTEE, AND ARE SUBJECT TO INVESTMENT RISK, INCLUDING POSSIBLE LOSS OF THE PRINCIPAL AMOUNT INVESTED.
YEAR END HSA REPORTING
With year-end approaching, it's important to understand the reports you will receive from United Bank concerning your HSA.  To avoid possible tax problems, you should review these reports carefully and contact us if you need to make any corrections.
  • End of year statement: This report is generated on 12/31, and shows all of your activity for the year. Don't wait for your statement to come in the mail, sign up for eStatements to access your statements sooner.
  •  1099SA: This form includes your total distributions for the year and is mailed in January.
    • It is your responsibility to make sure there are no mistaken distributions for unqualified expenses. Please contact us to make corrections to any mistaken distributions before the April 15, 2016 deadline.
  • 5498SA: This form includes total contributions credited to the tax year and will be mailed in May. 
    • It is your responsibility to make sure total contributions have not exceeded the IRS mandated limits creating an excess contribution. Please contact us to make corrections to any excess contributions before the October 15, 2016 deadline.
Get your FREE Insurance Review_