When are 2017 HSA Contributions Allowed?

One of the key benefits of a Health Savings Account (HSA) is the ability to make tax-deductible contributions to help cover medical expenses. For the year 2017, the deadline for making contributions to your HSA is the tax filing deadline of the following year. Here are some important details regarding 2017 HSA contributions:

• Contributions made before the tax filing deadline (typically April 15) can be counted towards your 2017 contributions.
• For the year 2017, individuals can contribute up to $3,400 to their HSA if they have self-only coverage, or up to $6,750 if they have family coverage.
• It's important to note that catch-up contributions of an additional $1,000 are allowed for individuals aged 55 and older.
• Contributions can be made by the HSA accountholder, their employer, or anyone else on their behalf.

By contributing to your HSA, you can enjoy tax advantages and save money for future healthcare expenses. Make sure to stay informed about contribution limits and deadlines to maximize your HSA benefits.

When thinking about Health Savings Accounts (HSAs), it's essential to understand the timeline for contributions. For the 2017 tax year, you can contribute to your HSA until the tax filing deadline in 2018, generally around April 15. This allows you to make financial decisions that can positively impact your tax return.