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Contributions To A Health Savings Account

When Contributions May Be Made To An HSA

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Contributions may be made at any time during the year in question plus any time until the tax return is due without extension (generally April 15 of the following year.)

The maximum amount that can be deducted from an employee’s pay each month (or excluded from income if the contribution is being made by the employer) is one twelfth of the lesser of either the applicable HDHP’s annual deductible, or a statutory amount which is adjusted annually for increases in the cost of living. (See the next section immediately below.)

Although eligibility to contribute is determined monthly, an individual can make his or her entire annual contribution on the first day of the year to maximize tax-free investment potential.

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