• Question
  • HSA Withholdings paid by employer

    Asked by someone from South Bend, IN on 4/5/2013

    married couple employers putting into HSA for each person - 4100 for next 3 years. Would it be better to not have employer put it in tax free and that amount would show as income for SS benefits? Larger yearly income - would that provide us with a larger SS benefit when we retire. We would each put it in oru HSA account and then claim it as a tax deduction at year end. I work for a CFP and he said it would not make any - it would not affect our SS benefits dollar amount. Thank you.

  • Categories: Taxes, How Calculated?, Retirement Planning, Budgeting, Retirement Assets and Savings, Withdrawals, Social Security, Guaranteeing Income


  • Editorial 


    San Francisco, CA

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  • Not everyone thinks like someone in finance or accounting and it appears that you do.

    I can not give you an accurate answer about how the extra earnings might impact your benefits without knowing your full working history, earnings amounts, etc...

    However, the Social Security Administration has published a worksheet entitled: "Estimating your Social Security retirement benefit." http://www.ssa.gov/pubs/media/pdf/EN-05-10070.pdf

    This worksheet is a bit complicated but it should enable you to estimate your benefits using the two scenarios you describe above.

    We wish you all the best!

  • Login to rate this answer:   Answered on 4/10/2013
**All above answers are provided as general information only. No warranty is made regarding the fitness or accuracy of the information provided in this answer. You should seek advice from a licensed CPA, attorney or CERTIFIED FINANCIAL PLANNER™ as to your unique financial situation.