How Much Can I Fund My HSA in 2017?

If you're considering a Health Savings Account (HSA) for the year 2017, you may wonder how much you can contribute to it. The annual contribution limits for an HSA depend on whether you have individual or family coverage, and the age bracket you fall into. In 2017, the maximum contribution limits were set by the Internal Revenue Service (IRS).

For the tax year 2017, the contribution limits for HSAs were:

• Individual Coverage: $3,400
• Family Coverage: $6,750
• Those aged 55 and older - an additional catch-up contribution of $1,000

These limits reflected a slight increase from the previous year, providing individuals and families with more opportunities to save on healthcare expenses while enjoying tax advantages.

When planning for your Health Savings Account (HSA) contributions in 2017, it's important to know that the IRS sets contribution limits based on your coverage type and age. This means that if you're covered individually or have family coverage, the contribution limits can differ significantly.