Can You Contribute to HSA for 2017 in 2018? - Understanding HSA Rules

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Contributing to prior-year HSA accounts

If you're wondering whether you can contribute to your Health Savings Account (HSA) for the previous year in the current year, the answer is yes! Contributing to your HSA for the previous year even after the tax year has ended is a great benefit that HSA offers. Let's delve deeper into the rules regarding HSA contributions:

Deadlines and specifying the tax year

Although the tax year may have ended, you can contribute to your HSA for the previous year until the tax deadline in the following year.

For example, you can contribute to your HSA for the year 2017 until the tax deadline in 2018, which is typically April 15th.

It's important to note that you should specify the year for which you are contributing when making a contribution for the previous year. This will ensure that the contribution is attributed to the correct tax year.

Contributing to your HSA for the previous year can help you maximize your tax benefits and save more for healthcare expenses.

If you’re exploring your options for maximizing your Health Savings Account (HSA), you’ll be pleased to know that contributing for the previous year is not only allowed but encouraged! You can make contributions for 2017 until the tax deadline of 2018, typically on April 15th. Remember to indicate the correct year when making your contributions to ensure compliance and reap the tax benefits.