HSA
If my HSA contributions exceed the IRS limit before or during the annual Intuit contribution, will my Intuit contribution be delayed until January?
If the Intuit employer contribution cannot be funded to your HSA because you have reached the IRS calendar-year limit, then this contribution will be returned to you in your subsequent paycheck, less applicable taxes. You will not receive a secondary employer contribution in January, since Intuit provides the employer contribution once a year at the start of our plan year, with the first paycheck in August.
There is a new IRS annual contribution limit at the beginning of the calendar year, but my health savings account (HSA) election is still based on the last calendar-year limit. When can I change my HSA election amount to the new IRS limit?
Because Intuit’s plan year aligns with our fiscal year (August 1–July 31), the new HSA limit will be updated at the start of each plan year. During annual enrollment in June, you can elect up to the current calendar-year IRS limit, and your election will be effective August 1.
My HSA contributions are automatically divided by the remaining pay periods in the current fiscal year. Can I make a one-time lump-sum contribution to my HSA?
At this time, our system does not allow an employee to make a pretax lump-sum payroll contribution to their HSA. But employees can make a posttax lump-sum payment directly through HealthEquity. Review the details and important tax considerations.
How can I make the IRS annual maximum contribution to my HSA when Intuit’s plan runs on a fiscal year basis but the IRS limit runs on a calendar year basis?
If you find that you will not reach the IRS maximum HSA contribution because Intuit’s benefits plan operates on a fiscal-year basis, you can make a posttax lump-sum payment directly through HealthEquity. Review the details and important tax considerations.
FSA
I elected the Dependent Care FSA, but my paycheck deductions have stopped. Why?
You can check your pay stub and look for the Dependent Care Flex year-to-date (YTD) contribution. Once the YTD contribution has reached $4,350, you’ve reached the IRS calendar-year limit of $5,000, since Intuit has also contributed $650. Intuit payroll will automatically pause your Dependent Care FSA contributions until the next calendar year begins in January. With your first paycheck in January, your contributions will automatically resume at a recalculated per-pay-period amount.
Can I still use my Dependent Care FSA while my contributions are paused?
Your Dependent Care FSA is still active, even while your contributions are paused. You can submit claims and receive reimbursement from the available funds in your Dependent Care FSA. If you’ve used all the funds in your account, you will need to wait until your contributions resume and you have enough funds to pay the claims you submit. (Note: Unlike your Health Care FSA funds, your Dependent Care FSA funds are not available in full at the beginning of the plan year. They are deposited in your account monthly.)
Once the funds are available in your account, you can submit claims for eligible expenses that you incurred during the current fiscal-year coverage period. So, even if your contributions were paused from October through December and you had no available balance, once your contributions resumes in January and your account was funded again, you could submit claims for eligible expenses you incurred between October and December up to the available balance, since your coverage was still active.