How much can I additionally contribute to my HSA for 2017?

Are you looking to boost your HSA savings for 2017? You'll be glad to know that you can contribute more funds to your Health Savings Account beyond the normal limits. Let's dive into the specifics and explore how you can supercharge your HSA contributions for the year.

Additional HSA Contributions for 2017:

For the tax year 2017, the maximum contribution limit for individuals with self-only coverage is $3,400, and for those with family coverage, it's $6,750. However, if you are 55 or older, you can make an additional catch-up contribution of $1,000.

So, how much can you additionally contribute?

If you met the standard contribution limit for your coverage type, you can contribute $1,000 on top of the regular limit if you are 55 or older. This means:

• Individuals with self-only coverage can contribute up to $4,400
• Individuals with family coverage can contribute up to $7,750

By making these additional contributions, you can maximize your HSA savings potential and enjoy tax benefits while preparing for future healthcare expenses.

Do you want to make the most out of your Health Savings Account in 2017? You're in luck! Not only can you contribute to your HSA up to the specified limits, but if you're 55 or older, you have the added bonus of a catch-up contribution.

Maximum HSA Contributions for 2017

For those managing self-only coverage, the standard maximum contribution in 2017 is set at $3,400. Meanwhile, individuals with family coverage can stash away up to $6,750. Age matters too! If you're over 55, you can add an extra $1,000 to these limits.

Understanding Your Additional Contribution Options

This means if you’re 55 or older, your total contributions could look like this:

• Self-only coverage: $4,400
• Family coverage: $7,750

By taking advantage of this catch-up contribution, you are not only enhancing your savings but also securing significant tax advantages to help cushion any future medical expenses.