Can I Still Make a 2017 HSA Contribution? - All You Need to Know

If you're wondering whether you can still make a 2017 HSA contribution, the short answer is yes, if you are eligible and meet the deadline. Health Savings Accounts (HSAs) are a great way to save for medical expenses tax-free. Here's what you need to know:

Eligibility Requirements:

• To contribute to an HSA, you must be covered by a high-deductible health plan (HDHP) and not be enrolled in Medicare.
• You cannot be claimed as a dependent on someone else's tax return.

Contribution Deadline:

• For the tax year 2017, the deadline to make HSA contributions is April 17, 2018.
• Note that contributions made by the deadline can be counted towards your 2017 taxes.

Contribution Limits:

• For 2017, the maximum contribution limits are $3,400 for individuals and $6,750 for families.
• If you're 55 or older, you can make an additional catch-up contribution of $1,000.

Remember, contributing to an HSA offers tax advantages and helps you save for future medical expenses. Check with your financial advisor or tax professional to ensure you meet all requirements and deadlines.

If you're asking yourself if you can still contribute to your 2017 HSA, the answer is yes! As long as you qualify and are mindful of the deadlines, you can benefit from the tax advantages of a Health Savings Account (HSA). Here’s what you need to keep in mind: