How Much Can You Contribute to HSA in 2019?

Health Savings Accounts (HSAs) are a valuable tool for individuals and families to save money for medical expenses. If you're considering opening an HSA or already have one, you may be wondering how much you can contribute to it in 2019.

For the 2019 tax year, the maximum contribution limits for HSAs are:

• $3,500 for individuals
• $7,000 for families

There is also a catch-up contribution of $1,000 for individuals aged 55 and older, allowing them to contribute a total of $4,500 for the year.

It's important to note that these contribution limits include both your contributions and any contributions made by your employer to your HSA.

Contributing to an HSA offers several benefits, including tax advantages and the ability to save for future medical expenses. By contributing the maximum allowed amount, you can maximize these benefits and better prepare for any healthcare costs that may arise.

Health Savings Accounts (HSAs) are an essential financial resource for anyone wanting to effectively manage their healthcare costs. If you’re thinking about contributing to your HSA for 2019, it's crucial to understand the limits set for the year:

• $3,500 for individuals
• $7,000 for families

Additionally, individuals aged 55 and older can take advantage of a catch-up contribution of $1,000, bringing their total contribution limit to $4,500. These limits encompass contributions made by both you and your employer, offering more flexibility in funding your health-related expenses.

By utilizing an HSA, not only do you benefit from tax-free contributions, but you also prepare for potential healthcare expenses that may arise in the future. Making the most out of your HSA contributions is a smart way to safeguard your financial health.