How Much Can I Contribute to HSA in 2019?

If you are considering contributing to a Health Savings Account (HSA) in 2019, you may be wondering how much you can actually contribute. HSA is a tax-advantaged account that allows individuals to save for qualified medical expenses. Knowing the maximum contribution limit is essential for maximizing the benefits of an HSA.

In 2019, the contribution limits for HSA accounts are as follows:

• For individuals: $3,500
• For families: $7,000
• Additional catch-up contribution for individuals aged 55 and older: $1,000

These limits are set by the IRS and are subject to change annually. It is important to stay informed about any updates to the contribution limits to ensure you are taking full advantage of your HSA.

Are you thinking about how to leverage a Health Savings Account (HSA) for your healthcare costs this year? If so, understanding the contribution limits is crucial. In 2019, you can contribute up to $3,500 if you are an individual, while families can save up to $7,000. Plus, don’t forget that if you’re 55 or older, you can add an additional $1,000 as a catch-up contribution to your HSA.