Are employers required to make contributions to the HSAs of independent contractors, even if they are covered by the company's HDHP?

An employer does not have an obligation to make HSA contributions to independent contractors. This holds true regardless of whether or not the employer has a Cafeteria Plan, since by definition these individuals are not employees. It is the employer's responsibility to seek legal counsel to determine which individuals are considered independent contractors.

Introducing UMB HSA Saver

UMB HSA Saver is a unique investment platform designed with ease in mind. Account holders can easily research, buy and sell funds with a couple clicks.

How to Use ReceiptVault

HSAs are available to help pay for current qualified medical expenses as well as to save for future expenses, all in a tax-exempt account.

Take the guesswork out of HSA Administration

The UMB HSA empowers you with robust analytics, reporting tools and the communication support you'd expect from a top 10 HSA custodian