How to Make HSA Catch Up Contributions 2019

If you are looking to make HSA catch-up contributions for the year 2019, there are a few important things to keep in mind. HSA catch-up contributions allow individuals aged 55 and older to contribute additional funds to their Health Savings Account each year. Here's how you can make HSA catch-up contributions for the year 2019:

1. Determine your eligibility: To make catch-up contributions, you must be 55 years of age or older by the end of the tax year and be enrolled in an HSA-qualified high deductible health plan.

2. Calculate the maximum catch-up contribution limit: For 2019, individuals can contribute an additional $1,000 as catch-up contributions to their HSA on top of the regular contribution limits.

3. Coordinate with your employer: If you have an employer-sponsored HSA, inform your HR department of your intention to make catch-up contributions for 2019.

4. Make contributions before the deadline: HSA catch-up contributions for the year 2019 can be made up until the tax filing deadline, which is typically April 15 of the following year.

By following these steps, you can successfully make HSA catch-up contributions for the year 2019 and take advantage of the tax benefits and savings that an HSA offers.

Making HSA catch-up contributions for the year 2019 is a great way for those aged 55 and older to bolster their health savings. Remember, it's important to first check if you qualify based on age and enrollment in a qualified high-deductible health plan.