HSA Guide
How Much Yearly Can a Single Person Put into an HSA?
Published October 15, 2023
Check eligibility on the go — browse 7,000+ HSA-eligible products in the free app.
Get the app2021 HSA limits for single individuals
If you're considering opening a Health Savings Account (HSA) as a single person, you might be wondering how much you can contribute annually. For the year 2021, as an individual, you can contribute up to $3,600 to your HSA. For individuals aged 55 and older, there is a catch-up contribution of an extra $1,000 per year.
As a single individual eyeing the benefits of a Health Savings Account (HSA), you're likely curious about your yearly contribution limits. In 2021, the maximum amount you can contribute to your HSA as an individual is $3,600. If youâre aged 55 or older, you are eligible for a catch-up contribution of an additional $1,000 annually.
Catch-up contributions and contribution details
Contributions to an HSA are tax-deductible, meaning you can deduct them from your taxable income when filing your tax return. This can result in significant tax savings, making HSAs a valuable tool for managing healthcare expenses.
- For 2021, the annual contribution limit for individuals is $3,600.
- Individuals aged 55 and older can make an additional catch-up contribution of $1,000 per year.
- HSA contributions are tax-deductible, reducing your taxable income.
- Unused HSA funds roll over from year to year, providing a valuable long-term savings opportunity for healthcare expenses.
Key points summary for 2021 contributions
Some key points to consider about HSA contributions for single individuals: