How Much Should I Put in My HSA in 2017?

Deciding how much to contribute to your Health Savings Account (HSA) in 2017 can be a thoughtful process. The amount you put in your HSA depends on various factors like your health needs, financial situation, and the benefits you seek. Here are some guidelines to help you determine the suitable amount:

1. Evaluate your healthcare expenses: Review your previous medical bills to estimate how much you might need for the upcoming year.

2. Account for the HSA contribution limits: In 2017, the maximum contribution limits were $3,400 for individuals and $6,750 for families. Consider contributing up to these limits if possible.

3. Consider your health condition: If you have known health issues or anticipate significant medical expenses, you might want to contribute more to your HSA.

4. Evaluate your budget: Ensure that you can comfortably afford the contributions without straining your finances.

5. Plan for the future: Think about saving for future medical expenses and retirement healthcare costs through your HSA contributions.

Remember, the funds in your HSA roll over each year, so any unused amounts will still be available for future healthcare expenses. Be sure to monitor your health needs and financial situation regularly to adjust your contributions accordingly.

When determining how much to contribute to your Health Savings Account (HSA) in 2017, it's key to assess your past healthcare expenses and project future needs. By analyzing previous medical bills, you can better estimate an appropriate contribution amount.