When Must HSA Contributions Be Made?

Health Savings Accounts (HSAs) are a great way to save for medical expenses while enjoying tax benefits. One common question that arises for HSA holders is when they must make contributions to their accounts.

Generally, HSA contributions can be made at any time during the calendar year, up to the tax filing deadline for that year, which is typically April 15 of the following year. However, there are a few key points to keep in mind:

• Contributions made by the tax filing deadline can be counted towards the previous tax year's contribution limit.
• Employer contributions to an employee's HSA are typically made through payroll deductions, so it's important to coordinate with your employer on the timing of these contributions.
• Individuals aged 55 and older can make additional
  

  Health Savings Accounts (HSAs) offer a unique opportunity to set aside money for healthcare costs while also reaping significant tax advantages. Many HSA holders often wonder about the timing of their contributions and when they are due.

  The good news is that you can contribute to your HSA anytime throughout the year, but be mindful of a crucial deadline: contributions must be finalized by the tax filing deadline, which is generally April 15 of the subsequent year. This means if you find yourself with extra cash in the spring, it could go towards boosting your HSA contributions for the previous year!