When is the Last Day to Contribute to an HSA for 2019?

Health Savings Accounts (HSAs) are a valuable tool for managing healthcare costs. One important aspect of an HSA is knowing the deadlines for contributions each year.

For the tax year 2019, the last day to contribute to an HSA is typically the tax filing deadline, which is usually April 15th of the following year.

It's crucial to make contributions before this deadline to maximize the tax benefits and ensure compliance with IRS regulations.

Here are some key points to keep in mind about HSA contributions for 2019:

• Contributions made before the tax filing deadline (April 15th) can be applied to the previous tax year (2019).
• For individuals 55 and older, catch-up contributions of up to $1,000 are allowed on top of the regular contribution limits.
• Employer contributions, payroll deductions, and personal contributions can all be made to an HSA.
• Contributions are tax-deductible, grow tax-free, and can be withdrawn tax-free for qualified medical expenses.
• It's important to keep track of your contributions to avoid exceeding annual limits, which can result in tax penalties.

Health Savings Accounts (HSAs) can be a fantastic way to save for medical expenses, not just for now but for the future too. Make sure you know when the last day to contribute for 2019 to take full advantage of this account!