When Can I Fund My HSA for 2018? A Comprehensive Guide

One common question individuals ask is, 'When can I fund my HSA for 2018?' Understanding the rules and deadlines regarding HSA contributions is crucial for maximizing the benefits of your health savings account. For the year 2018, the deadline to contribute to your HSA is typically April 15, 2019, aligning with the tax filing deadline.

Here are the key points to keep in mind:

• You can contribute to your HSA for the 2018 tax year until the tax filing deadline in April 2019.
• Contributions made by April 15, 2019, can be claimed on your 2018 taxes.
• For 2018, individuals can contribute up to $3,450 for self-only coverage or $6,900 for family coverage.
• If you are 55 or older, you are eligible for an additional $1,000 catch-up contribution.

It's essential to make sure you don't exceed the annual contribution limits set by the IRS to avoid penalties. By funding your HSA on time, you can enjoy tax advantages and use the funds for qualified medical expenses both now and in the future. Take advantage of this valuable savings tool to secure your healthcare needs.

When wondering, 'When can I fund my HSA for 2018?', it's crucial to know the deadlines and rules to fully utilize your health savings account. The last day to contribute for the 2018 tax year is April 15, 2019, the same date that tax returns are due.