When Can You Donate to an HSA for 2017?

If you're considering contributing to a Health Savings Account (HSA) for the year 2017, it's important to understand the deadlines and guidelines for making contributions. An HSA is a tax-advantaged account that allows individuals to save for qualified medical expenses. Here's what you need to know:

For 2017, you can make contributions to your HSA up until the tax filing deadline, which is typically April 15 of the following year. This means that for the 2017 tax year, you have until April 15, 2018, to contribute to your HSA.

Contributions to your HSA can be made up to the annual contribution limit set by the IRS. For 2017, the contribution limit for individuals is $3,400, and for families, it is $6,750. If you are 55 years or older, you can make an additional catch-up contribution of $1,000.

It's important to note that contributions to your HSA must be made in cash and cannot be made with assets or property. Additionally, you must be covered by a High Deductible Health Plan (HDHP) to be eligible to contribute to an HSA.

Are you ready to make the most of your Health Savings Account (HSA) for 2017? Understanding the contribution timelines is crucial. You have until April 15, 2018, to contribute for the 2017 tax year, allowing you time to maximize your savings.