Q.- We just started offering a high deductible health plan with a health savings account. One of our employees wants to change the HSA election amount he made during open enrollment. Does he have to experience a life event to change his HSA contribution?
A.- The health savings account rules allow employees to prospectively start, stop or change HSA contribution elections at any time during the plan year, with or without a life event. In fact, if contributions are made on a pre-tax basis under a cafeteria plan, participants must be able to change contribution amounts at least monthly. The rules for HSA changes differ from the rules for FSA changes.
