Can I Make a 2018 HSA Contribution in 2019?

Are you wondering if you can make a 2018 HSA contribution in 2019? The short answer is yes, but with some conditions and limitations.

Firstly, to make a contribution for the 2018 tax year, you must have had an eligible high deductible health plan (HDHP) for the entire year. If you meet this criteria, you can contribute to your HSA until the tax filing deadline, which is typically April 15 of the following year.

It's essential to keep in mind that the maximum contribution limits apply across both the tax years. For example, if you had already maxed out your HSA contributions for 2018, you would not be able to make additional contributions for that year in 2019.

Contributing to your HSA can offer tax benefits, including tax-deductible contributions, tax-deferred growth, and tax-free withdrawals for qualified medical expenses. It's a valuable tool for managing healthcare costs and saving for future medical needs.

If you’re considering making a contribution for the 2018 tax year in 2019, it's good to know that you can do this if you're eligible. Just ensure you had an eligible high deductible health plan (HDHP) for the entire year, and remember that the deadline for contributions is typically April 15 of the following year.