How Much can My Wife and I Contribute to HSA in 2017?

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2017 HSA contribution amounts

When it comes to contributing to a Health Savings Account (HSA) in 2017, there are specific limits in place based on whether you have self-only or family coverage. If both you and your wife are covered under a family HSA plan, you can contribute up to the family coverage limit. If you each have separate self-only coverage HSA plans, you would have individual contribution limits.

For the tax year 2017, the contribution limits are as follows:

• For self-only coverage: $3,400
• For family coverage: $6,750

Combined spouse contributions and family limit

It's important to note that these limits apply to the total contributions made by both the account holder and their spouse if both are HSA account holders. This means that if you and your wife both have individual HSA plans, your combined contributions cannot exceed the family limit.

In 2017, contributing to a Health Savings Account (HSA) can really boost your financial health, especially when you have a family plan in place. If you and your wife are enrolled in a family HSA plan, you can contribute up to the family coverage limit of $6,750, providing a valuable tax advantage for your shared healthcare expenses.