How Much Can a 64-Year-Old Person Contribute to an HSA per Year?

When it comes to the Health Savings Account (HSA), individuals aged 55 and older have a special catch-up contribution allowance. For the year 2021, the maximum contribution limit for a 64-year-old person is $4,650 for self-only coverage and $8,250 for family coverage.

However, it's important to note that the contribution limits may change annually due to inflation adjustments. Individuals who are eligible to contribute to an HSA can do so until they enroll in Medicare. Once enrolled in Medicare, individuals can no longer contribute to an HSA.

Individuals aged 64 can make significant contributions to their Health Savings Accounts (HSAs), with the maximum limit of $4,650 for self-only coverage and $8,250 for family coverage in 2021. This allows for a robust savings strategy for medical expenses.