How Much Can a Single Person Put in Their HSA?

Health Savings Accounts (HSAs) are a great way for individuals to save money for medical expenses while enjoying tax benefits. One common question people have is, 'How much can a single person put in their HSA?'

For the year 2021, if you have self-only coverage, you can contribute up to $3,600 to your HSA. If you are 55 or older, you are eligible for an additional $1,000 'catch-up' contribution, bringing your total to $4,600.

It's important to note that these contribution limits are set by the IRS and are subject to change each year. It's always a good idea to check the current limits to ensure you are maximizing your HSA savings.

Health Savings Accounts (HSAs) provide a fantastic opportunity for individuals to save for medical expenses while enjoying tax advantages. If you're wondering, 'How much can a single person contribute to their HSA?' you're not alone! For 2023, the contribution limit for self-only coverage has risen to $3,850. If you're 55 or older, you can also make an additional 'catch-up' contribution of $1,000, bringing your total potential contribution to $4,850.