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Training Tidbit: Am I able to set up a Health Savings Account deduction with an upper limit?

Yes, if you have employees with a health savings account deduction which has a maximum amount that can be contributed to their health savings account in a calendar year, be sure to set up the health savings account deduction in the Deduction File in Payroll with an upper limit so that the deduction automatically stops when the maximum has been met.

To add an upper limit for a health savings account deduction, complete the following:

  • Select the Maintenance menu in Payroll and then Deductions.
  • Bring up the health savings account deduction.
  • Click the Rate Table tab.
  • Enter the maximum amount in the Deduction Upper Limit field for Calendar Year.
  • Select the appropriate type in the Deduction Limit Type field for Calendar Year (for example, select Employee or Employer, depending on who pays the deduction).
  • Click the Save button.

Note:  For more information on setting up health savings account deductions in the School Accounting System, refer to the Health Savings Account Deductions Setup Checklist topic in the Help File, or click here to request the Health Savings Account Deductions Webinar Recording.