Can You Make Catch-Up Contributions to HSA?

HSA or Health Savings Account allows individuals to save money for medical expenses tax-free. One common question that arises is whether you can make catch-up contributions to your HSA.

The good news is yes, you can make catch-up contributions to your HSA if you are 55 years or older, allowing you to save more for healthcare costs and enjoy additional tax benefits.

Catch-up contributions are additional contributions that individuals who meet the age requirement can make on top of the regular annual contribution limit set by the IRS.

For individuals who are eligible for an HSA and want to boost their savings, catch-up contributions provide an excellent opportunity to do so.

Absolutely! If you're 55 years or older, you have the unique opportunity to make catch-up contributions to your HSA, enabling you to save even more for your healthcare needs as you approach retirement.