July 15 Tax Deadline Opens a Window for Additional HSA/MSA Savings

Employees who plan to take advantage of the late filing for federal income taxes have an unexpected opportunity to max out their health savings account contributions. In Question 12, the IRS specifies:

Contributions may be made to your HSA or Archer MSA, for a particular year, at any time during the year or by the due date for filing your return for that year. Because the due date for filing Federal income tax returns is now July 15, 2020, under this relief, you may make contributions to your HSA or Archer MSA for 2019 at any time up to July 15, 2020.