Contributions Limits & Tax Year Indicators

Each year the IRS publishes the annual contribution limits for HSAs based on the account holder's benefit coverage level as well as the 55-year-old catchup up contribution amount. When using the Lynx platform to support HSAs you can use our APIs and underlying technology to calculate and track member contributions against their annual contribution limit. Please note, the 55-year-old catchup contribution can occur at any point in the calendar year in which the member turns 55 years old. Members do not need to wait until their actual birthday.

In connection with the HSA contribution limit tracking, we have provided the ability to indicate the tax year for each contribution. The API functionality allows for the allocation towards the current tax year (applicable from January 1 through December 31) or the prior tax year (applicable from January 1 through the tax filing deadline).