When can I make a catch up contribution to my HSA?

55 or older
Federal rules permit “catch-up”? contributions to HSAs if an individual is 55 or older, allowing an increase in annual contributions up to an additional $1,000 per year. Individuals are eligible for this extra contribution if one is 55 years or older or turning 55 anytime during that year.

Can I contribute to HSA after filing taxes?

You can also contribute to your HSA post-tax and recognize the same tax savings by claiming the deduction when filing your annual taxes. Money comes out tax-free. Eligible healthcare purchases can be made tax-free when you use your HSA.

age 55
When you reach age 55 and are eligible to have an HSA, you can contribute an additional $1,000 each year through age 65 or until you enroll in Medicare. This is called a catch-up contribution.

How much can you contribute to HSA catch up?

If you have an HSA-eligible family health insurance policy and you’re 55 or older, you can contribute up to $6,750 in 2016, plus the $1,000 catch-up contribution, bringing your total contribution to $7,750 for the year.

Can you make a catch up contribution to someone else’s health savings account?

No, you cannot make a catch-up contribution into anyone else’s health savings account. You can only make a catch-up contribution into your own health savings account. If I don’t turn 55 until the end of the year, do I need to prorate that year’s catch-up contribution? No, you don’t.

Can a 55 year old contribute to a health savings account?

Catch-Up Contribution FAQs & Answers If you are age 55 and older, you are allowed to contribute up to an extra $1,000 each year to your health savings account (HSA) as a catch-up contribution.

What are the rules for health savings accounts?

CONTRIBUTION RULES. • For 2018, $3,450 for individuals with self-only coverage and $6,900 for individuals with family coverage. • Individuals who are age 55 or older may make an additional $1,000 “catch-up” contribution.