How Much Money Can Be Contributed to HSA Account in 2017?

When it comes to contributing to your Health Savings Account (HSA) in 2017, there are specific limits set by the IRS that you need to be aware of. As an individual, you can contribute up to $3,400 to your HSA in 2017, and for families, the limit is $6,750. These contributions are tax-deductible and can help you save money on healthcare expenses.

It's important to note that if you are over the age of 55, you can make an additional catch-up contribution of $1,000 to your HSA. This extra contribution allows older individuals to save even more towards their healthcare costs.

Contributing to your HSA not only helps you save money on taxes but also allows you to build a fund for future medical expenses. The funds in your HSA can be used to pay for qualified medical expenses, including deductibles, copayments, and other healthcare costs.

In 2017, knowing the contribution limits for your Health Savings Account (HSA) is crucial for maximizing your savings. As an individual, you can put away up to $3,400 to cover future healthcare costs, while families can contribute as much as $6,750. This option not only provides tax deductions but also helps build a nest egg for those unexpected medical bills.