An HSA account is much like an IRA, except that deposits and qualified withdrawals are tax-exempt. Individuals and employers may deposit money into the HSA up to an annual dollar limit, with extra catch-up contributions allowed for those who are age 55 and older.

Contributions can be made by the employer, the individual, or both. Contributions can also be made by others on behalf of an individual. Contribution limits are the sole responsibility of the individual or employer. The bank is not responsible to enforce compliance with these limits. You or your employer should talk to your insurance agent for maximums, and should revisit this area every year as the index could change.