How Much Can You Fund an HSA for in Oregon?

Health Savings Accounts (HSAs) are a great way to save for medical expenses while enjoying tax benefits. In Oregon, individuals have the opportunity to contribute to their HSA accounts to plan for future healthcare needs. But how much can you actually fund an HSA for in Oregon?

When it comes to HSA contributions in Oregon, the maximum amount you can fund for an HSA depends on several factors:

• Filing Status: Whether you are contributing as an individual or through a family plan
• Age: Individuals age 55 and older have the option to contribute an additional catch-up contribution
• Annual Contribution Limits: The IRS sets limits on how much you can contribute to your HSA annually

For the current year 2021, the HSA contribution limits in Oregon are as follows:

• $3,600 for individuals
• $7,200 for families
• An additional $1,000 catch-up contribution for individuals age 55 and older

It's essential to stay informed about the latest contribution limits set by the IRS to make the most out of your HSA savings. By contributing to your HSA, you can benefit from tax advantages and secure funds for any future medical expenses.

Health Savings Accounts (HSAs) offer an excellent opportunity for residents in Oregon to save money for medical expenses while enjoying substantial tax benefits. Knowing how much you can contribute to your HSA can help you effectively plan your healthcare finances.