How Much Can You Put in an HSA in 2017?

Health Savings Accounts (HSAs) are a great way to save money for medical expenses while enjoying tax benefits. If you're wondering how much you can contribute to your HSA in 2017, read on to find out the limits and benefits.

In 2017, individuals with self-only coverage can contribute up to $3,400 to their HSA, while those with family coverage can contribute up to $6,750. If you are 55 or older, you can make an additional catch-up contribution of $1,000.

Contributions to an HSA are tax-deductible, and any interest or investment earnings on the account are tax-free. Plus, withdrawals for qualified medical expenses are also tax-free, making HSAs a smart way to save for healthcare costs.

It's important to note that the contribution limits are set by the IRS and can change annually, so be sure to stay updated on the latest limits. Additionally, unused funds in an HSA roll over from year to year, so you never have to worry about losing your savings.

Health Savings Accounts (HSAs) offer a powerful opportunity to save for future healthcare costs while simultaneously reaping significant tax advantages. In 2017, individuals with self-only coverage had the chance to contribute up to $3,400 to their HSAs, while those with family coverage could set aside as much as $6,750. Additionally, if you were 55 or older, you could contribute an extra $1,000 as a catch-up contribution, allowing you to boost your savings even more.