How Much Can One Contribute to HSA in 2017? - HSA Contribution Limits Explained

When it comes to saving for healthcare expenses, Health Savings Accounts (HSAs) are a popular choice for many individuals. In 2017, the contribution limits for HSAs were set by the IRS to help individuals maximize their savings potential for medical expenses. Understanding these limits is crucial for making the most of this tax-advantaged account.

In 2017, the contribution limits for HSA accounts were:

• For individuals: $3,400
• For families: $6,750
• Individuals aged 55 and older could contribute an extra $1,000 as a catch-up contribution

It's important to note that these contribution limits are set by the IRS and may change annually, so it's essential to stay updated on the current limits to make informed decisions about your healthcare savings.

Contributing to an HSA not only helps you save for current medical expenses but also allows you to build a nest egg for future healthcare costs in a tax-advantaged way.

Health Savings Accounts (HSAs) have gained popularity for a reason. Not only do these accounts let you set aside pre-tax dollars for healthcare expenses, but they also allow your savings to grow tax-free. In 2017, many were fortunate to benefit from the HSA contribution limits set by the IRS, which provided significant savings opportunities.