When Do I Have to Make a HSA Contribution for 2017?

When it comes to making a Health Savings Account (HSA) contribution for the year 2017, there are some important deadlines and guidelines to keep in mind. An HSA is a tax-advantaged savings account that allows individuals to save money for qualified medical expenses.

Here are some key points to note regarding HSA contributions for 2017:

• For the tax year 2017, you have until the tax filing deadline of April 17, 2018, to make contributions to your HSA
• Contributions made before the tax deadline can be counted towards your 2017 contributions
• You can contribute up to $3,400 for individual coverage or $6,750 for family coverage in 2017
• Individuals aged 55 and older can make an additional catch-up contribution of $1,000

It's important to note that contributions made after the tax deadline will be considered as contributions for the following tax year. This means that if you make a contribution after April 17, 2018, it will be counted towards your 2018 contributions.

By understanding the deadlines and contribution limits for your HSA, you can make informed decisions to maximize your tax savings and healthcare benefits.

When planning your finances for 2017, don't overlook the opportunity to contribute to your Health Savings Account (HSA). Understanding the contribution timeline is key to optimizing your healthcare savings.