How Much Money Can I Put into My HSA in 2015?

If you are considering opening a Health Savings Account (HSA) in 2015, you may be wondering how much money you can contribute to it. The contribution limits for HSAs are set by the IRS each year. In 2015, individuals with self-only coverage were allowed to contribute up to $3,350, while those with family coverage could contribute up to $6,650. Additionally, individuals aged 55 and older were eligible to make an additional catch-up contribution of $1,000.

Contributions to an HSA are made on a pre-tax basis, which means that the money you contribute is not subject to federal income tax. This can result in significant tax savings, making an HSA a valuable tool for managing healthcare costs.

It is important to note that these contribution limits are for the year 2015 specifically. The limits may change from year to year, so it is advisable to check with the IRS or a financial advisor for the most up-to-date information.

If you are considering opening a Health Savings Account (HSA) in 2015, it's a great time to educate yourself about the contribution limits set by the IRS. For that year, individuals with self-only coverage could contribute up to $3,350, while those with family coverage had a limit of $6,650. Don't forget, if you are aged 55 or older, you could benefit from an extra catch-up contribution of $1,000!