What are the HSA Contribution Limits for 2017?

Health Savings Accounts (HSAs) are a valuable tool for managing healthcare expenses and saving for the future. For the year 2017, there were specific contribution limits set by the IRS that individuals could contribute to their HSAs.

The HSA contribution limits for 2017 were:

• For individuals: $3,400
• For families: $6,750
• Additional catch-up contribution for individuals aged 55 and older: $1,000

It's important to note that these limits are set by the IRS and may be subject to change in the future. Contributing to an HSA allows individuals to take advantage of tax benefits while saving for healthcare expenses both now and in retirement.

Health Savings Accounts (HSAs) provide a tax-efficient way to save for healthcare expenses, with specific contribution limits established annually by the IRS. In 2017, the HSA contribution limits were set at:

• Individuals: $3,400
• Families: $6,750
• For those aged 55 and older, an additional catch-up contribution of $1,000 was permitted.

By contributing to an HSA, you're not only saving for medical costs but also enjoying significant tax advantages, such as tax-deductible contributions and tax-free withdrawals for qualified medical expenses.