How Much Can I Contribute to My HSA in 2017?

If you are wondering how much you can contribute to your HSA in 2017, you've come to the right place! Health Savings Accounts (HSAs) are a great way to save for medical expenses while enjoying tax benefits. In 2017, the contribution limits for HSAs were set by the IRS.

For 2017, individuals with self-only coverage could contribute up to $3,400 to their HSA, while those with family coverage could contribute up to $6,750. If you were 55 or older, you were also eligible to make an additional catch-up contribution of $1,000.

Here are some key points to remember about HSA contributions in 2017:

• Individual contribution limit: $3,400
• Family contribution limit: $6,750
• Catch-up contribution for 55 and older: $1,000

It's essential to stay informed about contribution limits to maximize the benefits of your HSA. Consult with a financial advisor or HR representative to ensure you are contributing the right amount for your situation. Remember, unused HSA funds roll over from year to year, so any contributions you make can continue to grow tax-free.

Are you curious about how much you could contribute to your HSA in 2017? You're definitely not alone! Health Savings Accounts (HSAs) are a fantastic tool for saving up for medical costs while reaping some amazing tax benefits. For the year 2017, the IRS set specific contribution limits that you should be aware of.

Individuals opting for self-only coverage were allowed to contribute a maximum of $3,400 to their HSA. On the other hand, those with family coverage could boost their savings up to $6,750. And don't forget, if you were aged 55 or older, you had the chance to make an additional catch-up contribution of $1,000.

To recap the key numbers for 2017:

• Maximum individual contribution: $3,400
• Maximum family contribution: $6,750
• Catch-up contribution for those age 55 and older: $1,000

Remaining aware of these limits can help you leverage your HSA effectively. It's always a good idea to connect with a financial advisor or your HR department to tailor your contributions based on your unique needs. Plus, any funds in your HSA that aren't used will roll over into the next year, allowing your savings to grow tax-free!