How Much Can You Contribute to a HSA Per Year?

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IRS sets annual HSA contribution limits

When it comes to contributing to a Health Savings Account (HSA), the annual contribution limit is determined by the IRS.

2021 HSA limits for self-only and families

For the year 2021, individuals with self-only coverage can contribute up to $3,600 to their HSA. If you have family coverage, you can contribute up to $7,200.

For those aged 55 or older, an additional catch-up contribution of $1,000 is allowed.

Catch-up contributions and staying updated

It's important to note that these contribution limits are subject to change each year, so it's essential to stay updated on the current limits.

When considering your financial health, a Health Savings Account (HSA) is a powerful tool. For the year 2021, the IRS has set the annual contribution limit for those with self-only coverage at $3,600 while families can contribute up to $7,200. Additionally, if you’re 55 or older, you can take advantage of a catch-up contribution of $1,000 to boost your savings even further.