When Can You Make a 2018 HSA Contribution?

Contributing to a Health Savings Account (HSA) is a great way to save for medical expenses while enjoying tax benefits. If you are looking to make a 2018 HSA contribution, here are some key points to keep in mind:

For the tax year 2018, you can make HSA contributions until the tax filing deadline, which is typically April 15th of the following year. However, you can also make contributions up to the tax filing deadline, including any extensions.

Here are some important details regarding 2018 HSA contributions:

• You can contribute up to $3,450 for individuals and $6,900 for families in 2018.
• If you are 55 or older, you can make an additional $1,000 catch-up contribution.
• Contributions to your HSA can be made by you, your employer, or both. However, the total contributions cannot exceed the annual limits.

It's essential to ensure that your contributions do not exceed the annual limits to avoid any tax penalties. Keep track of your contributions throughout the year to stay within the allowed limits.

Did you know that contributing to a Health Savings Account (HSA) not only helps you save for future medical expenses but also offers you a powerful tax advantage? If you're considering making a 2018 HSA contribution, keep in mind that you can only do so until the tax filing deadline, which usually falls on April 15th the following year. Plus, if you’ve received an extension on your tax filing, you can add contributions even beyond this date.