When Can I Fund 2018 HSA? - Everything You Need to Know

One common question that many individuals have is, 'When can I fund my 2018 HSA?' It's essential to understand the rules and regulations surrounding HSA contributions to maximize the benefits of this tax-advantaged account.

For the tax year 2018, you can contribute to your HSA until the tax filing deadline, which is typically April 15 of the following year. It's important to note that contributions made between January 1 and April 15 of the current year can be designated for the previous tax year. This provides individuals with flexibility in funding their HSA.

Some key points to consider regarding funding your 2018 HSA include:

• Contributions made before the tax filing deadline can be claimed as a deduction on your previous year's tax return.
• For 2018, the maximum contribution limits are $3,450 for individuals and $6,900 for families.
• Individuals aged 55 and older can make an additional catch-up contribution of $1,000.

By contributing to your HSA, you can save for medical expenses tax-free, reduce your taxable income, and potentially grow your funds through investment options.

Wondering when you can fund your HSA for 2018? The good news is that you can contribute to your HSA until April 15 of the following year, giving you flexibility in how you manage your finances.