Understanding HSA Limits for 2019

Health Savings Accounts (HSAs) are a great way to save for medical expenses while enjoying tax benefits. For the year 2019, the contribution limits for HSAs are as follows:

• Individuals can contribute up to $3,500
• Families can contribute up to $7,000
• Additional catch-up contributions of $1,000 are allowed for individuals aged 55 and older

It's important to be aware of these limits to maximize the benefits of your HSA. By contributing the maximum amount, you can enjoy tax deductions on your contributions and tax-free growth of your savings.

Health Savings Accounts (HSAs) are an excellent way to save for medical expenses while enjoying substantial tax advantages. For 2019, it's crucial to know the HSA contribution limits so you can maximize your savings:

• For individuals, you can set aside up to $3,500.
• If you're part of a family, you're allowed to contribute up to $7,000.
• Additionally, individuals aged 55 and older can make an extra catch-up contribution of $1,000.

Understanding these limits is vital because by fully utilizing your HSA, you could significantly reduce your taxable income, effectively increasing your savings for future medical needs.