Let's say my salary was $10 $1 for HSA contribution (PreTax) My pay is $9, right? I got $8 in my bank and $1 in HSA bank Where did $1 go?

  • by ?
  • Apr 14,2018
  • 8 answers

Let's say my salary was $10 $1 for HSA contribution (PreTax) My pay is $9, right? I got $8 in my bank and $1 in HSA bank Where did $1 go?


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Insurance Answers (8)

Insurance Pickle.com 3 months ago

Regarding this response:
Salary
1000
Deduction from gross
401K -50
Health INS -50
HSA Employee (Pretax)-100
----
-200
Taxes
Federal -100
Social Security Employee -50
Medicare Employee -50
KY -withholding -100
----
-300
Net Pay 500
Direct Deposit
Checking 400
HSA 100
Your employer is doing it wrong. You should have $500 go to checking and $100 to the HSA. I wonder how many other people your genius of an HR/Payroll person is screwing over. Sounds more like they're an idiot than a scammer, but totally wrong.
So, to answer your question, the extra money is still in your employer's bank account.

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curtisports2 3 months ago

Tax withholding? Don't waste our time with hypotheticals. Show us the pay stub.

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D J 3 months ago

For your taxes, social security, etc.

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Billy 3 months ago

Taxes, back child support, some garnishment against your wages, the possibilities are myriad.

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martin 3 months ago

The $1 is held in your name by the HSA company handling your account.

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Eva 3 months ago

other tax withholding

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StephenWeinstein 3 months ago

Taxes. It went to the government. And it's usually about three times that much.

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Ricki 3 months ago

Look at your pay stub, all deductions will be listed and you can see where all the money is going. You have overlooked something in your numbers here.

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