Can You Contribute in 2019 for 2018 HSA?

As you navigate the world of Health Savings Accounts (HSAs), you may encounter questions about contribution timelines and possibilities. One common inquiry is whether it's permissible to contribute in 2019 for the previous tax year, specifically for 2018 HSA contributions.

The short answer is no, you generally cannot contribute in 2019 for your 2018 HSA. Contributions to an HSA must typically be made during the tax year for which they are designated, meaning contributions for the 2018 tax year needed to be made by the tax filing deadline in 2018.

However, if you had an HSA-eligible high-deductible health plan (HDHP) in 2018, but did not open an HSA account or fully fund it, there may be a one-time option to make contributions retroactively for the prior tax year. This process involves making a contribution by the tax filing deadline in April and indicating that it is for the previous year.

When considering contributions to your Health Savings Account (HSA), it's crucial to understand the specific timelines. You'll find the question of whether you can contribute in one year for the previous year's HSA quite common.