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  • Managing My Health Savings Account (HSA)

    A Health Savings Account (HSA) can be a great way to save money. However, HSA’s have a number of rules and it’s important to follow them carefully. Below you’ll find your options for contributions — along with the forms you need — so you can make the most of your account.

  • Contributions

    Contributions to your HSA must always be made by check or transfer, and there are a number of ways to do it. The following information can help you make a plan. 

    Maximum Contributions

    For 2015, the maximum you are legally allowed to contribute to an HSA is $3,350 for single coverage or $6,650 for family coverage. For 2016, maximum contribution is increasing to $3,350 for single coverage or $6,750 for family coverage.

    Once you open your HSA, you can contribute as often as you wish. However, you are not required to contribute anything unless you want to. Please be aware that it is up to you to ensure you do not deposit beyond the maximum contribution amount each year and that your contributions are deposited within the calendar year for which you would like them applied.

    Catch-Up Contributions

    In addition to the annual HSA contribution limits, if you reach age 55 before the end of the year, you may also contribute an additional amount known as a “catch-up” contribution. The catch-up contribution limit is an additional $1,000. 

    HSA Account Forms

    The following forms will assist in servicing your HSA account. Need help opening these files?  Please bring your completed form(s) to your local branch or mail to:

    First Niagara Bank
    Customer Contact Center
    P.O. Box 514
    Lockport, NY 14095-0514


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First Niagara does not provide tax advice. Please consult your tax advisor.

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