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Health Savings Accounts (HSAs)

HSA Eligibility Rules

Review the eligibility rules to see if you qualify to participate in an HSA.

2026 IRS Health Savings Account Limits

2026 IRS HSA limits, including how much you can contribute for single or family coverage and rules that may apply based on your age.

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Getting Started with Your HSA

An HSA helps you save money before taxes to pay for health care. The money is yours to keep and rolls over each year.

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HDHP with HSA FAQ

Find answers to common questions about how an HSA works and how to use it.

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Information:

2026 HSA Limits – Includes your and Magna’s contribution.

Individual: $4,400
Family: $8,750
Catch-up (age 55+): $1,000

Magna will add money to your HSA in Quarterly Installments!

Up to $400 annually for individuals
Up to $800 annually for families

Magna’s HSA contribution is prorated.

Magna deposits 1/4 of the annual amount at the end of each quarter.

You must be enrolled by March 1, June 1, September 1, or December 1 to receive the corresponding quarterly contribution.

Your HSA contribution limit is prorated based on how many full months you’re eligible.

Magna deposits 1/4 of the annual amount at the end of each quarter.

You get 1/12 of the annual limit for each full month you’re HSA eligible.
It’s your responsibility to ensure your election matches your eligible months.
Example: If your HDHP starts July 10, your HSA eligibility begins August 1, giving you 5 eligible months (Aug–Dec). For single coverage, 5/12 of $4,400 = $1,833.33, which becomes your limit.

Last-Month Rule:

If you are HSA‑eligible on December 1, the IRS lets you contribute the full yearly HSA amount, even if you were only eligible part of the year. To keep this benefit, you must stay HSA‑eligible through December 31 of the next year. If you lose eligibility during this time, the extra money you contributed becomes taxable and may include a 10% penalty. You are responsible for following IRS rules.

*Magna is not responsible if your job or election changes.

Quick HSA Overview Video

Watch this short clip on how an HSA works!