How Much Can I Put in an HSA Account Per Year?

Health Savings Accounts (HSAs) are a great way to save for future medical expenses while also enjoying tax benefits. One common question many people have is: how much can I contribute to my HSA account per year?

The IRS sets limits on the maximum amount you can contribute to your HSA annually. As of 2021, the contribution limits are:

• Individual coverage: $3,600
• Family coverage: $7,200
• If you are 55 or older, you can make an additional catch-up contribution of $1,000 per year.

It's important to note that these limits are subject to change, so be sure to check the current limits each year to stay informed. Additionally, keep in mind that your contributions can be made through payroll deductions or directly into your HSA account.

By maxing out your HSA contributions each year, you can take full advantage of the tax benefits and build a solid financial cushion for any future medical expenses that may arise. Start planning for your healthcare needs today by making the most of your HSA.

Did you know that using a Health Savings Account (HSA) can significantly alleviate the financial burden of medical expenses? If you’re wondering how much can I contribute to my HSA account per year, it’s essential to stay informed about the IRS contribution limits.