Can I Still Contribute to My HSA for 2017? - Everything You Need to Know

Are you wondering whether you can still contribute to your Health Savings Account (HSA) for the year 2017? Let's explore this question and provide you with all the information you need to make informed decisions about your HSA.

Firstly, the good news is that as long as you had an HSA-eligible health insurance plan for the entire year of 2017, you can contribute to your HSA for that year. The deadline for contributing to your HSA for 2017 is typically the tax filing deadline of the following year, which is usually April 15th.

Contributions to your HSA for 2017 are tax-deductible, meaning you can still make contributions and reduce your taxable income for that year. This can lead to significant tax savings and help you save more for future healthcare expenses.

It's important to note that the contribution limits for HSA in 2017 were $3,400 for individuals and $6,750 for families. If you are above 55 years old, you could also make an additional catch-up contribution of $1,000.

So, if you haven't maxed out your HSA contributions for 2017, it's not too late to do so before the deadline. Make sure to check your eligibility, contribution limits, and consider the tax benefits of contributing to your HSA.

Are you still pondering whether you can contribute to your Health Savings Account (HSA) for 2017? The simple answer is yes, if you had an HSA-eligible health insurance plan for the entire year!