Can I Still Contribute to 2019 HSA? - Understanding Health Savings Accounts

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2019 HSA contribution deadline guidance

If you're wondering whether you can still contribute to your 2019 HSA (Health Savings Account), the answer is yes! It's important to understand the rules and deadlines associated with HSA contributions to make the most of this valuable healthcare investment tool.

As the year comes to a close, here's what you need to know about contributing to your 2019 HSA:

Rules for limits, tax benefits, and uses

• For the 2019 tax year, you have until the tax filing deadline (usually April 15th) of the following year to make contributions to your HSA.
• You can contribute up to the IRS limits for individual or family coverage, with additional catch-up contributions allowed for those aged 55 and older.
• Contributions to your HSA are tax-deductible, lowering your taxable income for the year.
• Funds in your HSA can be used to pay for qualified medical expenses tax-free, both in the current year and in the future.
• Any unused funds in your HSA roll over from year to year, unlike Flexible Spending Accounts (FSAs) that have a Yes, you can still contribute to your 2019 HSA, but it's essential to be aware of the contribution limits and deadlines so you can fully leverage this tax-advantaged account.

Yes, you can still contribute to your 2019 HSA, but it's essential to be aware of the contribution limits and deadlines so you can fully leverage this tax-advantaged account.