How Much Can a Single Person Contribute to an HSA?

Many individuals are increasingly turning to Health Savings Accounts (HSAs) to save and invest for current and future medical expenses. One common question that arises is how much a single person can contribute to an HSA.

For the year 2021, a single person can contribute up to $3,600 to an HSA account. Additionally, individuals aged 55 and older can make catch-up contributions of up to $1,000, bringing their total annual contribution limit to $4,600.

It is important to note that these contribution limits are set by the IRS and may be subject to annual adjustments. Understanding these limits can help individuals maximize their HSA benefits while staying compliant with regulations.

As more people seek ways to manage healthcare costs, Health Savings Accounts (HSAs) continue to gain popularity. For 2021, the contribution limit for a single person stands at $3,600. This amount allows individuals to save for qualifying medical expenses tax-free.