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The Health Savings Account (HSA) Distribution Form is designed to assist you in selecting an HSA distribution reason and method. Applicable law or policies of the HSA custodian/trustee may require additional documentation. A separate distributionform must be completed for each distributionreason. It is in your best interest to seek the
Tax Deductions For Your HSA. Learn How to Reduce Your 2016 Taxes by $3,350 or More With a Health Savings Account! The contribution you make to your health savings account (HSA) is 100 percent tax-deductible up to a limit of $6,750 for a family and $3,350 for an individual. Your HSA-qualified health insurance must be in place by December 1st in order to qualify for a current year tax deduction.