When Can I Make HSA Contributions in 2018? | HSA Awareness and Information

As you navigate the realm of Health Savings Accounts (HSAs), understanding when you can make contributions is key to maximizing the benefits. In 2018, the rules for making HSA contributions are quite specific.

Here are the main points to be aware of:

• Contribution Timing: Contributions can be made at any point during the tax year.
• Deadline: The deadline for contributing to your HSA for the 2018 tax year is April 15, 2019.
• Annual Limits: For 2018, the annual contribution limits were $3,450 for individuals and $6,900 for families.
• Catch-up Contributions: Individuals aged 55 and older can make an additional $1,000 catch-up contribution.

Remember, contributions to HSAs are tax-deductible, grow tax-free, and can be withdrawn tax-free for qualified medical expenses. By being aware of the contribution rules, you can take full advantage of the financial benefits HSA has to offer.

It’s essential to recognize that Health Savings Accounts (HSAs) offer flexibility when it comes to contributions. In 2018, the IRS allowed contributions to be made anytime throughout the year, ensuring that you can maximize your savings during open enrollment periods or whenever it suits your financial plans.