When is the Latest I Can Contribute to My HSA for 2017?

If you have a Health Savings Account (HSA) and are looking to make contributions for the year 2017, it's important to be aware of the deadline. Contributions to an HSA for a particular tax year can be made up until the tax-filing deadline for that year, which is typically April 15 of the following year. However, if April 15 falls on a weekend or a holiday, the deadline may be extended.

Contribution limits for 2017 are $3,400 for individuals and $6,750 for families. If you are age 55 or older, you can contribute an additional $1,000 as a catch-up contribution. Making these contributions can provide you with numerous tax benefits and help you save for future medical expenses. Remember that contributions made to your HSA are tax-deductible, grow tax-free, and can be withdrawn tax-free when used for qualified medical expenses.

It's important to note that HSA contributions for a specific tax year must be made by the tax filing deadline of the following year, regardless of when you file your taxes. If you have any questions about your HSA contributions or need assistance, contact your HSA provider or financial advisor for guidance.

Key Points to Remember:

• The deadline to make HSA contributions for the year 2017 is typically April 15 of the following year.
• Contribution limits for 2017 are $3,400 for individuals and $6,750 for families.
• If you are 55 or older, you can make an additional catch-up contribution of $1,000.
• HSA contributions are tax-deductible, grow tax-free, and can be withdrawn tax-free for qualified medical expenses.

Are you aware that if you have a Health Savings Account (HSA), you can still contribute for the previous year? The deadline for making contributions for 2017 is around the corner, typically on April 15 of the following year unless it lands on a weekend or holiday, which could extend the deadline.