What Is the Deadline for Contributing to HSA for 2018?

As the end of the year approaches, many individuals are wondering about the deadline for contributing to their Health Savings Account (HSA) for the year 2018. An HSA is a tax-advantaged savings account that individuals with high-deductible health plans can use to save for medical expenses.

The deadline for contributing to an HSA for the year 2018 is April 15, 2019. This deadline aligns with the tax filing deadline for that year. Contributions made after this deadline will count towards the following tax year.

It's important to note that the contribution limits for HSAs are set by the IRS each year. For 2018, the contribution limit for individuals was $3,450, and for families, it was $6,900. These limits include both employee and employer contributions.

As the end of the year draws near, many people often find themselves pondering the deadline for HSA contributions for 2018. If you have a high-deductible health plan, you likely know that a Health Savings Account (HSA) can be a smart way to save for health-related expenses.

The key date to remember is April 15, 2019, which is the last day you can make contributions to your HSA for the year 2018. This date coincides with the general tax filing deadline, so it's an excellent opportunity to double-check your contributions.

Understanding contribution limits can also help you maximize your tax benefits. In 2018, the limit for individual accounts was set at $3,450, while families were allowed a maximum of $6,900. Keep in mind that these figures account for both employer and employee contributions, making it essential to plan your contributions carefully.