Can You Make HSA Payments in 2019 for 2018?

If you missed making Health Savings Account (HSA) contributions in 2018, you might be wondering if you can still make payments in 2019 and attribute them to the previous year. HSA rules can be confusing, so let's break it down.

According to HSA guidelines, you cannot make contributions for a previous tax year after the tax filing deadline, which is usually April 15th of the following year. This means that you cannot contribute to your HSA for 2018 after April 15, 2019.

However, there is one exception to this rule. You can make HSA contributions for the previous year up to the tax filing deadline if you establish your HSA account before the tax filing deadline.

Therefore, if you opened your HSA account before April 15, 2019, you are allowed to make contributions for the 2018 tax year up until the tax filing deadline.

It's essential to keep accurate records and consult with a tax professional to ensure compliance with HSA rules and maximize the benefits of your account.

If you’re feeling a bit lost when it comes to Health Savings Account (HSA) contributions and the timelines around them, don’t worry—you’re not alone! Confusion can arise, especially when it comes to making contributions towards previous tax years. So, can you make HSA payments in 2019 for 2018? Let’s clarify.

The rules state that you cannot contribute to your HSA for any previous year past the tax filing deadline, which typically falls on April 15. This means contributions for 2018 had to be made by this date in 2019.

There’s a silver lining, however! If you opened your HSA account before that April deadline, you're in luck! You can still make contributions for the 2018 tax year right up until that cutoff.

Be sure to have all your paperwork in order and consider speaking with a tax professional for guidance—taking advantage of HSA contributions can significantly benefit your healthcare costs.