How Much Can I Put Into My HSA 2017?

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2017 HSA contribution limits by coverage

If you are considering using a Health Savings Account (HSA) and wondering about the contribution limits for 2017, you've come to the right place. In 2017, the maximum amount you can contribute to your HSA depends on whether you have individual or family coverage. For individuals with self-only coverage, the contribution limit was $3,400, while for those with family coverage, the limit was $6,750.

If you're exploring the benefits of a Health Savings Account (HSA) and curious about how much you can contribute in 2017, you’re in the right place. For 2017, individuals with self-only coverage had a contribution limit of $3,400, while those with family coverage could contribute up to $6,750. This means you have significant room to save for your healthcare expenses, making HSAs a smart choice for many.

Tax deductibility and catch-up contributions

These HSA contributions are tax-deductible, meaning that you can reduce your taxable income by the amount you contribute to the account. This can result in significant tax savings and help you cover your out-of-pocket medical expenses more effectively.

It's important to note that if you are age 55 or older, you can make catch-up contributions to your HSA. In 2017, the catch-up contribution limit was an additional $1,000, allowing older individuals to save even more for their healthcare needs.