Information on Form 5498-SA HSA, Archer MSA, or Medicare Advantage MSA Information reports contributions to an Archer MSA, an MA MSA, or an HSA.
Generally, contributions you make to your Archer MSA are deductible. Employer contributions are excluded from your income and are not deductible by you. If your employer makes a contribution to one of your Archer MSAs, you cannot contribute to any Archer MSA for that year. If you made a contribution to your Archer MSA when your employer has contributed, you cannot deduct your contribution, and you will have an excess contribution in that year. If your spouse is covered by your High Deductible Health Plan (HDHP) and an excludable amount is contributed by your spouse's employer to an Archer MSA belonging to your spouse, you cannot make contributions to your own Archer MSA that year.
A Medicare Advantage MSA is an Archer MSA designed by Medicare to be used solely to pay the qualified medical expenses of the account holder who is enrolled in Medicare. Contributions can only be made by Medicare. The contributions are not included in your gross income, nor are they deductible. Neither you nor your employer can make contributions to your MA MSA.
Generally, after-tax contributions you or someone other than your employer make to your HSA are deductible on your tax return. Employer contributions to your HSA may be excluded from your income and are not deductible by you. Unlike MSAs, You and your employer can make contributions to your HSA in the same year.
Employer contributions made to an Archer MSA are shown on your Form W-2 Wage and Tax Statement in Box 12 (code "R"), and employer contributions (and employee contributions through a section 125 cafeteria plan) made to an HSA are shown in Box 12 (code "W").
To enter HSA information in the program:
To enter MSA information in the program:
For more information, see IRS Publication 969 Health Savings Accounts and Other Tax-Favored Health Plans
Note that any link in the information above is updated each year automatically and will take you to the most recent version of the document at the time it is accessed.