Is There a Limit on HSA Balance? - Everything You Need to Know About HSA Limits

Health Savings Accounts (HSAs) are a great way to save for medical expenses while enjoying tax advantages. When it comes to HSA balances, there are some limits you need to be aware of.

One of the top questions people have about HSAs is whether there is a limit on how much you can have in your HSA account. The answer is yes, there are limits on HSA balances.

Here's what you need to know about HSA limits:

• Annual Contribution Limits: The IRS sets limits on how much you can contribute to your HSA each year. For 2021, the contribution limit is $3,600 for individuals and $7,200 for families.
• Catch-up Contributions: Individuals age 55 and older can make an additional catch-up contribution of $1,000 per year.
• Account Balance: Unlike Flexible Spending Accounts (FSAs), there is no
  

  It's important to understand that while Health Savings Accounts (HSAs) provide incredible tax benefits and a great way to save for healthcare costs, there are indeed limits to what you can put into your account. The IRS caps annual contributions at $3,600 for individual coverage and $7,200 for family coverage, which means you need to plan your deposits carefully throughout the year.