HSA Guide
How Much Money Can I Put Into an HSA in 2017?
Published October 1, 2023
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Get the app2017 HSA contribution limits and catch-up
If you are considering contributing to a Health Savings Account (HSA) in 2017, you may be wondering how much you can contribute. In 2017, the maximum contribution limits for an HSA are:
- For individuals: $3,400
- For families: $6,750
- Additional catch-up contribution for those aged 55 and older: $1,000
If you're considering contributing to a Health Savings Account (HSA) in 2017, it's important to know the contribution limits set by the IRS. The maximum contribution limits are:
- Individuals: $3,400
- Families: $6,750
- For those aged 55 and older: an additional $1,000 catch-up contribution.
These contributions include both employee and employer contributions, so keep an eye on the total to avoid penalties!
Tax advantages, future planning, and guidance
These contribution limits are set by the IRS and are subject to change each year. It's important to note that these limits apply to both you and your employer's contributions combined. If you contribute more than the limit, you may be subject to penalties.
Contributing to an HSA can provide tax advantages and a way to save for current and future medical expenses. It's a valuable tool for managing healthcare costs and planning for the future.
Remember to consult with a financial advisor or tax professional to understand the specific rules and regulations related to HSAs and how they may affect your individual circumstances.