Can I Go Back and Contribute to HSA for 2018?

Are you wondering if you can retroactively contribute to your Health Savings Account (HSA) for the year 2018? The answer is YES, you may still be able to contribute to your HSA for the previous year, as long as you meet certain criteria.

Contributions to an HSA can be made up until the tax filing deadline for that year, which is typically April 15th of the following year. For the tax year 2018, the deadline to make contributions was April 15, 2019. However, depending on your situation, you may qualify for an extension.

If you had an HSA-eligible high deductible health plan (HDHP) for the full year in 2018, you can contribute up to the annual maximum contribution limit for that year. For 2018, the maximum HSA contribution limits were $3,450 for individuals and $6,900 for families.

Here's what you need to know if you're considering contributing to your HSA for 2018:

• Check if you were eligible to contribute to an HSA in 2018 by having an HSA-qualified HDHP.
• Verify the maximum contribution limits for individuals and families for the year 2018.
• Consult with a tax professional to understand any tax implications or penalties for retroactive contributions.

Yes, you can indeed make retroactive contributions to your Health Savings Account (HSA) for the tax year 2018, provided that you meet the eligibility requirements for that year.