How Much Can You Put Into HSA 2017?

Health Savings Accounts (HSAs) are a great way to save for medical expenses while also enjoying tax benefits. If you are wondering how much you can contribute to your HSA in 2017, you'll be glad to know there are limits set by the IRS.

For 2017, the maximum contribution limits for HSA are:

• $3,400 for individuals
• $6,750 for families
• Additional $1,000 catch-up contribution for individuals aged 55 or older

It's important to note that these limits are for the entire year, so if you didn't contribute the full amount in one go, you can contribute throughout the year as long as you stay within the annual limit.

Contributions to HSAs are tax-deductible, grow tax-free, and withdrawals for qualified medical expenses are also tax-free. This makes HSAs a powerful tool for managing healthcare costs and saving for the future.

Health Savings Accounts (HSAs) are a fantastic way to save for healthcare costs while reaping the benefits of tax savings. If you’re curious about how much you can contribute to your HSA in 2017, the IRS has set specific limits that you should be aware of.

For the 2017 tax year, the maximum contributions are:

• $3,400 for individual account holders
• $6,750 for families with dual coverage
• An additional $1,000 catch-up contribution is allowed for individuals aged 55 and older

Remember, these limits apply for the entire year, allowing you to contribute incrementally or all at once—whatever suits your financial plan best!

Contributions to an HSA provide tax deductions, accumulates tax-free, and allows for tax-free withdrawals for qualified medical expenses. This means HSAs serve not just as a savings account but as a robust strategy for future healthcare expenses.