How Much Money Can I Put in HSA for 2019?

If you are considering opening or contributing to a Health Savings Account (HSA) for 2019, you may be wondering how much money you can put into it. An HSA is a tax-advantaged account available to individuals with high-deductible health plans, designed to help cover medical expenses. The maximum amount you can contribute to your HSA for 2019 depends on your health plan coverage and other factors.

For 2019, the annual contribution limits for an HSA are:

• $3,500 for individuals
• $7,000 for families
• If you are 55 or older, you can make an additional catch-up contribution of $1,000

It's important to note that these contribution limits are set by the IRS and are subject to change each year. Contributing to an HSA can provide you with valuable tax benefits and help you save for future medical expenses.

If you're considering the advantages of a Health Savings Account (HSA), understanding contribution limits is crucial. For 2019, these limits are designed to maximize your savings potential while ensuring you can effectively manage your medical expenses.