Does your health insurance plan include a tax-smart health savings account or an Archer Medical Savings Account? If so, you now also have until July 15 to contribute to your HSA or MSA.

March 26, 2020

Does your health insurance plan include a tax-smart health savings account (HSA) or perhaps an Archer Medical Savings Account (MSA)?

If so, you may be aware that for prior years, you could continue making tax deductible contributions to your account up to the date you file your return or April 15, whichever is later. Due to the coronavirus (COVID-19) outbreak, the filing and tax paying deadline for 2019 federal tax returns has been moved to July 15. That means you now also have until July 15 to contribute to your HSA or MSA.

For more information contact us, or see question 21 on this list of frequently asked questions from the IRS: https://bit.ly/2WJx0Sj