How Much Can I Put in an HSA in 2019?

Health Savings Accounts (HSAs) are a tax-advantaged way to save and pay for medical expenses. When it comes to contributing to an HSA in 2019, there are specific limits set by the IRS that you should be aware of. Let's delve into the details to answer the common question, 'how much can I put in an HSA in 2019?'

HSA Contribution Limits for 2019:

For individuals:

• The maximum contribution for individuals is $3,500.
• If you are 55 or older, you can make an additional catch-up contribution of $1,000.

For families:

• The maximum contribution for families is $7,000.
• Those aged 55 and older can contribute an extra $1,000 as a catch-up contribution.

These limits are set by the IRS and are subject to change annually, so it's essential to stay updated on the current regulations.

Health Savings Accounts (HSAs) are more than just a savings tool; they provide a robust strategy for managing healthcare costs. In 2019, understanding how much you can contribute to your HSA is crucial for maximizing these benefits.

HSA Contribution Limits for 2019:

For individuals:

• The maximum contribution you can make is $3,500.
• If you're 55 or older, you qualify for an extra catch-up contribution of $1,000!

For families:

• The maximum family contribution is $7,000.
• Similar to individuals, those aged 55 and older may also contribute an additional $1,000.

Since these limits can change each year, it’s important to keep abreast of the IRS guidelines to optimize your HSA savings.