How Much Can I Pay into HSA? - Understanding HSA Contribution Limits

One of the most important aspects of a Health Savings Account (HSA) is understanding how much you can contribute to it. HSA contribution limits are set each year by the IRS, and it's essential to stay informed about these limits to make the most of your HSA benefits.

For 2021, the HSA contribution limits are:

• $3,600 for individuals
• $7,200 for families
• Additional $1,000 catch-up contribution for individuals aged 55 and older

These limits are subject to change, so it's crucial to check the current limits each year. It's also important to note that both you and your employer can contribute to your HSA, but the total contributions must not exceed the annual limits set by the IRS.

Understanding HSA contribution limits is crucial for maximizing your healthcare savings. For 2021, these limits are set at $3,600 for individuals and $7,200 for families. If you're aged 55 or older, you can also make an additional catch-up contribution of $1,000. Remember, both you and your employer can contribute, but together you must stay within these IRS limits.