How Much Can You Put Into HSA for 2019?

If you are looking to maximize your tax savings while investing in your health, a Health Savings Account (HSA) is a fantastic option to consider. An HSA allows you to set aside pre-tax dollars to pay for qualified medical expenses, making it a valuable financial tool. But how much can you contribute to your HSA for the year 2019?

For 2019, the contribution limits for Health Savings Accounts are as follows:

• Individuals: $3,500
• Family coverage: $7,000
• Individuals aged 55 and older: An additional $1,000 catch-up contribution

These contribution limits are set by the IRS and are designed to help individuals and families save for future medical expenses while enjoying tax benefits. By contributing to your HSA, you can reduce your taxable income and grow your savings for healthcare needs over time.

Are you aware that a Health Savings Account (HSA) is not only a smart way to save for medical expenses, but it's also a powerful vehicle for tax savings? For the year 2019, the contribution limits are set at $3,500 for individuals and $7,000 for family coverage, making it an excellent option for those looking to reduce taxable income.