How Much Can You Put in HSA 2019?

If you have a Health Savings Account (HSA), you may be wondering how much you can contribute to it in 2019. An HSA is a tax-advantaged account that allows you to save money for medical expenses. Knowing the contribution limits can help you maximize the benefits of your HSA. In 2019, the maximum contribution limits for HSA are:

• For individuals: $3,500
• For families: $7,000

These limits are set by the IRS and are subject to change each year. If you are 55 or older, you can make an additional catch-up contribution of $1,000. It's important to note that these contributions are tax-deductible, and any interest or earnings on the account are tax-free as long as they are used for qualified medical expenses.

Contributions to an HSA can be made by you, your employer, or both. If you have a high-deductible health plan (HDHP), you are eligible to open an HSA. The funds in your HSA can be used to pay for a wide range of medical expenses, including deductibles, copayments, and prescriptions.

Are you curious about how much you can contribute to your Health Savings Account (HSA) in 2019? As a vital tool for managing healthcare costs, knowing the contribution limits can empower your savings. For 2019, the IRS has set the maximum contribution limits at $3,500 for individuals and $7,000 for families.