When Can You Contribute to Your HSA Account in 2018 for your 2017 Contributions?

Health Savings Accounts (HSAs) are a great way to save for medical expenses while enjoying tax benefits. It's important to know the rules regarding contributing to your HSA account to maximize its benefits.

When it comes to contributing to your HSA account in 2018 for your 2017 contributions, the deadline is typically April 15, 2018. This deadline aligns with the tax filing deadline for the previous year.

Here are some key points to keep in mind regarding contributions to your HSA account:

• Contributions for the previous tax year must be made by the tax filing deadline of the following year.
• Contributions made by your employer are generally excluded from your gross income.
• You can contribute to your HSA account on your own if you are self-employed.

It's essential to stay informed about the contribution deadlines to take full advantage of your HSA benefits. Consult with a financial advisor or tax professional for personalized guidance.

Health Savings Accounts (HSAs) continue to be an excellent vehicle for saving on medical costs while enjoying tax benefits. Understanding the contribution rules is essential for maximizing your HSA. In 2018, if you intended to make contributions for 2017, just remember that the deadline falls on April 15, 2018, aligning with the tax filing date for the previous year.