How to Make a Catch-Up Contribution to Your HSA

If you are looking to boost your HSA savings, making a catch-up contribution can be a great way to maximize your funds. Catch-up contributions allow those aged 55 and older to contribute an additional amount to their HSA accounts each year, on top of the regular contribution limits. Here's how you can make a catch-up contribution to your HSA:

1. Check Your Eligibility: Ensure that you are 55 years or older to qualify for making catch-up contributions.
2. Understand Contribution Limits: For 2021, the catch-up contribution limit is $1,000 in addition to the regular contribution limit.
3. Contact Your HSA Provider: Reach out to your HSA provider to inquire about the process for making catch-up contributions.
4. Submit the Contribution: Follow the instructions provided by your HSA provider to submit the catch-up contribution amount.
5. Review Your Contribution: Double-check to confirm that the catch-up contribution has been successfully added to your HSA account.

By following these steps, you can ensure that you are taking full advantage of catch-up contributions to boost your HSA savings.

Are you 55 or older and looking to boost your health savings account (HSA)? Making a catch-up contribution can significantly enhance your savings potential for future healthcare costs. Here’s a step-by-step guide to make that happen!