Due to IRS maximum limitations on annual contributions to HSAs, you are responsible for adjusting your HSA contributions if any of the incentives outlined above would cause your total contributions (including your own contributions, financial incentives earned and BNY Mellon contributions) to exceed the IRS limit ($3,450 for single Employee Only coverage and $6,850 for non-single coverage; additional $1,000 catch-up contribution permitted for those age 55 or older).

If your total contributions exceed the IRS limit, you may withdraw the excess without penalty until the deadline (including extensions) for filing your tax return for the tax year for which the excess contribution was made. After that time, the excess amounts are subject to both income taxes and an excise tax.