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How do I claim the Federal Tax Deduction for my HSA Contributions?

New contributions to an HSA may be fully deductible, the earnings grow tax deferred, and distributions to pay or reimburse qualified medical expenses are tax free*. Rollovers and transfers from HSAs, IRAs, Archer medical savings accounts are not deductible. The deadline for regular and catch-up HSA contributions is your federal income tax return due date, excluding extensions, for that taxable year, typically April 15.

*Consult your tax advisor.