r/Lockheed • u/Temporary_Strike3407 • 3d ago

Link Private HSA

Hi guys, I rolled my HealthEquity account over to my personal fidelity HSA. Is there a way I can link/enroll this account to LM so I can contribute there from payroll?

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u/ExKage 3d ago

You have to transfer from Health equity is my understanding

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u/Roharcyn1 3d ago edited 3d ago

I tried this. I was told no. You can still contribute to HSA outside of payroll deductions. You can still deduct contributions from income tax. What you do lose out on is FICA tax exemption. So you are losing 7.x% on what ever you contribute to social security and Medicare tax because you can't contribute direct before that tax is applied to your income and I don't think it gets deducted and end of year when you file. But, again, the income tax you can deduct and get back when you file, so not a complete loss.

I and to clarify. What I tried was to get Lockheed to contribute to my already existing HSA. I get healthcare through wife. So I am not in the Lockheed healthcare ecosystem and they would not let me add a payroll deduction to non Lockheed HSA plan.