How Much Can a Family Contribute to an HSA in 2019?

Health Savings Accounts (HSAs) are a great way for families to save for medical expenses while enjoying tax benefits. If you're wondering how much a family can contribute to an HSA in 2019, here's what you need to know.

In 2019, the maximum contribution for families to an HSA is $7,000. This means that if both spouses are covered under a high deductible health plan, the total family contribution cannot exceed $7,000 for the year. However, if only one spouse has coverage, the maximum contribution is $7,000.

It's important to note that these limits are set by the IRS and are subject to change each year. Contributions to an HSA are tax-deductible, grow tax-free, and can be withdrawn tax-free for qualified medical expenses.

Health Savings Accounts (HSAs) are an excellent financial tool for families looking to manage healthcare costs efficiently while benefiting from tax advantages. In 2019, the IRS set the maximum contribution limit for families at $7,000, which applies whether one or both spouses are covered under a high-deductible health plan.