Questions and Answers

The deadline to establish and make a 2007 HSA contribution is the tax filing due date, excluding extensions, April 15, 2008. The individual had to be eligible for a 2007 contribution, i.e., have high-deductible health plan coverage and meet the remaining eligibility criteria.

An HSA owner may only pay for or reimburse medical expenses incurred after establishment of his/her HSA, so establishing an HSA now to pay for or reimburse 2007 expenses will not work.