Important Note: This only applies if you have HSA with Forma in 2022 with WealthCare Saver. If you are first enrolled in Forma HSA in the 2023 plan year, the feature will be available later in March/April.
If you have enrolled in an HSA plan with your employer, you could always contribute to your HSA account via payroll on a regular basis. What happens if you change your mind and want to add more money? Great news - whether it's for your prior year's allocation or the current year's election, you can do so via Forma!
1. Log into your Forma Portal.
2. Go to Accounts → Health Savings Account → Manage → Pay Myself.
3. You will be directed to a new page that shows your HSA Account Details. Go to Contributions --> Add Contributions.
4. Fill in all required information to fund your HSA.
Please note that for contributions made outside of payroll, you are funding your HSA with after-tax money. To enjoy the income tax deduction, you get to deduct your contributions on your tax return (line 25 on Form 1040.) For more details about HSA-related tax forms, please see HERE.
****Important Note: Individual contributions can take up to several days to be posted and show up in your account. The bank needs to ensure that the funds are received and cleared prior to them becoming available for use.
Catch up on Last Year's Allocation
Please note that there is a deadline to make contributions allocated to your previous year's HSA. Yearly contributions should be made by your tax filing deadline.
The deadline to make contributions to an HSA for a tax year is usually April 15 of the following year. For 2022, the deadline is April 18 per IRS Release.
If you are unable to add contributions via the online portal, please send the Contribution Form to the bank along with the funding check.
If you have any questions, please feel free to reach out to our Member Experience Team via live chat, email firstname.lastname@example.org, or call us at 844-902-2902.