Can I still contribute to a health savings account for 2015? --M.S., Atlanta
Yes. You have until April 18, 2016—the deadline to file your 2015 tax return—to make your 2015 contribution. You can contribute $3,350 for individual coverage or $6,650 for family coverage (plus $1,000 if you’re 55 or older) if you had an HSA-eligible health insurance policy on December 1, 2015. Otherwise, the size of your HSA contribution is based on the number of months you had the eligible coverage. If you had an HSA-eligible policy on December 1 but not for the entire year, you can make the full contribution but must keep an HSA-eligible policy for all of 2016 to avoid taxes and a 10% penalty for the extra months’ contributions.
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