Can I Still Open an HSA for 2017 and Fund It?

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Opening and funding deadline for 2017

If you're wondering whether you can still open and fund a Health Savings Account (HSA) for the year 2017, the short answer is yes! But there are some important details and deadlines to keep in mind.

Here's what you need to know:

2017 contribution limits and catch-up amounts

• The deadline to open and contribute to an HSA for the 2017 tax year is April 15, 2018.
• For 2017, the contribution limit for individuals is $3,400 and $6,750 for families.
• If you are 55 or older, you can make an additional catch-up contribution of $1,000.
• Funding your HSA can provide you with tax advantages, as contributions are tax-deductible and withdrawals for qualified medical expenses are tax-free.
• HSAs are portable, meaning you can keep and use the funds even if you change jobs or health insurance plans.
• Remember to keep records of your medical expenses and HSA contributions for tax purposes.

Tax advantages and portability to use funds

So, if you haven't opened an HSA for 2017 yet, there's still time to do so before the deadline. Take advantage of the tax benefits and financial flexibility that an HSA can offer!

Wondering if you can still open and fund a Health Savings Account (HSA) for the year 2017? Good news! The answer is yes, allowing you to tap into fantastic tax advantages before the deadline!