How Long Can You Contribute to an HSA for 2018?

Health Savings Accounts (HSAs) are a great way to save for medical expenses while enjoying tax benefits. You can contribute to an HSA for the entire year, but there is a deadline to be aware of when it comes to making contributions for the previous year. For 2018, the deadline to contribute to your HSA is April 15, 2019.

It’s important to note that contributions made between January 1 and April 15 of the following year can count towards the previous year’s limit. This allows individuals to maximize their contributions and take advantage of the tax benefits associated with HSAs.

Here are some key points to remember about contributing to an HSA for 2018:

• The deadline to contribute for 2018 is April 15, 2019
• Contributions made between January 1 and April 15 of the following year can count towards the previous year’s limit
• For 2018, the contribution limit for individuals is $3,450 and $6,900 for families
• Individuals age 55 and older can make an additional $1,000 catch-up contribution

Health Savings Accounts (HSAs) offer an excellent way to save for medical expenses, allowing you to enjoy significant tax benefits. It’s crucial to be aware that while contributions can be made throughout the year, there is a specific deadline to keep in mind for past contributions. For the tax year 2018, you have until April 15, 2019, to contribute to your HSA and take advantage of those benefits.

What’s fantastic about HSAs is that any contributions made from January 1 until the deadline can be applied to the previous year's contribution limits. This feature enables you to make the most of your savings and tax deductions.

Keep these essential details in mind regarding contributing to an HSA for 2018:

• Remember, the cutoff for contributions is April 15, 2019.
• Contributions made in the early months of the following year are considered valid for the previous year.
• For 2018, the contribution cap stands at $3,450 for individuals and $6,900 for families.
• Individuals aged 55 and over can benefit from an additional catch-up contribution of $1,000, boosting their potential savings.