How Much Can a Single Person Deposit in HSA?

Health Savings Accounts (HSAs) are excellent financial tools that single individuals can take advantage of to save for medical expenses. The amount of money a single person can deposit into an HSA varies each year.

For 2021, the contribution limits for a single person are:

• Self-only coverage: $3,600

For individuals aged 55 and older, an additional catch-up contribution of $1,000 is allowed, bringing the total to $4,600 per year.

It's important to note that these limits can change each year, so it's essential to stay informed about the latest updates.

Health Savings Accounts (HSAs) are fantastic financial tools for single individuals looking to save for medical expenses while enjoying potential tax benefits. In 2021, the contribution limit for single coverage is set at $3,600 per year.