When Can I Contribute for an HSA Account 2018? - Your Comprehensive Guide

Are you eager to start contributing to your HSA account for the year 2018? As you navigate through the world of health savings accounts, you might have questions about the timing of contributions.

Contributions to your HSA account can be made at any time during the year, up to the tax filing deadline (usually April 15 of the following year). Here are some key points to keep in mind:

• You can contribute to your HSA account up to the annual contribution limit set by the IRS.
• For 2018, the annual contribution limit for individual coverage is $3,450, and for family coverage, it is $6,900.
• If you are 55 or older, you are eligible to make an additional catch-up contribution of $1,000.
• Contributions can be made by you, your employer, or both. Any contributions made by your employer are not included in your gross income.
• Contributions made by you are tax-deductible, even if you do not itemize your deductions.

Did you know that you can contribute to your HSA account anytime throughout the year, all the way up until the tax filing deadline, which is usually April 15 of the next year? This means you have flexibility in planning your contributions.