If you begin contributing during the year (as a newly eligible employee), the maximum contribution you can make is $5,000, which will be taken in equal installments over the remaining pay periods for that year.

For example, if you are hired on June 15 and you elect $3,000, the $3,000 contribution will be divided by the number of pay periods left in the year and an equal amount will be deducted from each paycheck beginning July 1 (when coverage is effective). Assuming you are paid on a semimonthly basis, this would be $250 a paycheck from July 1 through December 31.