2017 HSA Limits: What You Need to Know

When it comes to Health Savings Accounts (HSAs), knowing the contribution limits is essential for making the most of this valuable tool. For the year 2017, the HSA limits are as follows:

• Individuals: $3,400
• Family: $6,750
• Catch-up contribution for those 55 and older: $1,000

These limits represent the maximum amount you can contribute to your HSA for the year. Keep in mind that your contributions are tax-deductible and grow tax-free, making HSAs a great way to save for medical expenses.

Understanding Health Savings Accounts (HSAs) is essential for managing your healthcare finances. For the year 2017, the contribution limits were set at:

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

By maximizing your HSA contributions, you not only save for medical expenses but also take full advantage of tax benefits available to you. Contributions made to your HSA are tax-deductible, making it a smart move financially.