HSA Contribution Limits for 2019: Everything You Need to Know

Health Savings Accounts (HSAs) are a valuable tool for managing healthcare expenses while saving on taxes. One key aspect to consider when utilizing an HSA is the contribution limits set for each year. For 2019, the HSA contribution limits are as follows:

• Individual Coverage: $3,500
• Family Coverage: $7,000
• Catch-up Contributions (age 55 and older): $1,000

It's important to understand these limits to maximize the benefits of your HSA. By contributing up to the allowed limit, you can enjoy tax advantages and save for future healthcare costs. Keep in mind that these limits are subject to change, so it's crucial to stay updated on any adjustments made by the IRS.

Health Savings Accounts (HSAs) are an incredibly beneficial financial tool that allows you to save money for healthcare expenses while also reaping significant tax benefits. In 2019, the contribution limits for HSAs were established to help individuals and families plan effectively for their medical needs. For those with individual coverage, you could contribute up to $3,500, while families could save $7,000. If you're age 55 or older, you also had the option to make catch-up contributions of an extra $1,000.