Your money can come from a variety of places.
- If you are making contributions directly, you can link your bank account (checking or savings) in the Linked Accounts section of your Profile, and make direct contributions.
- If your Employer does not offer an HSA provider and tells you to pick your own, then you can provide your Employer with your First Dollar account number (visible in your Dashboard) and our routing number (211075086) and your employer funds your account electronically (via ACH).
- If your Employer is working directly with First Dollar, then we pull your HSA contributions from your Employer. This will happen for both employer contributions (if they offer that) and your payroll deductions.
- If your bank does not support connecting your accounts to First Dollar, you can also send a check via mail. Send your check to the below address and be sure to specify your First Dollar HSA account number:
P.O Box 55063
Boston, MA 02205
Other ways of getting funds into your account include:
- A Rollover or Trustee-to-Trustee transfer. This is when you move existing HSA funds from a different provider into First Dollar. We provide simple instructions and a form for doing this on your own.
- An IRA to HSA transfer. This can be done once in a lifetime and counts against your annual contribution limit. You also have to be eligible to make contributions into an HSA account in the year that you do this. We provide simple instructions and a form for doing this on your own.
In all cases, we will send you a tax form at the end of the year showing the total amount of contributions that have been made into your HSA account. If working directly with First Dollar, you can schedule any 1-time contributions or ongoing monthly contributions. It's up to you.
Source: Internal Revenue Code 223, Health Savings Accounts