Contributions come from two sources – you and loanDepot. If you contribute to the HSA, loanDepot will match your contributions up to certain amounts. You can change your HSA contribution at any time during the plan year.
The table below shows the amount that loanDepot will match, and the maximum that can be contributed to your HSA in 2019.
HSA CONTRIBUTION LIMITS
||Total limit for 2019
||loanDepot matches up to:
||Max you can contribute:
|HDHP + HSA $1500
|HDHP + HSA $3500
Note: Most state tax laws align with federal laws in regards to HSAs, with some exceptions. Employee and employer contributions to an HSA are taxable at the state level in California and New Jersey. Please check with your tax preparer or accountant for the most up-to-date guidance on taxation of HSA contributions.
To see how pairing a High Deductible Health Plan and a Health Savings Account can save you money compared to a traditional EPO or PPO health plan, check out our cost comparison.