What are the threshold amounts of HSA contributions in 2017?

When it comes to contributing to a Health Savings Account (HSA) in 2017, there were specific threshold amounts set by the IRS that individuals needed to be aware of. These thresholds dictate the maximum contribution limits for HSAs based on whether you have self-only or family coverage and your age.

For 2017, the HSA contribution limits were:

• Self-only coverage: $3,400
• Family coverage: $6,750
• Catch-up contributions (age 55 and older): An additional $1,000

It's essential to understand these threshold amounts to ensure you are maximizing your HSA contributions while staying within the limits set by the IRS.

In 2017, the IRS set strict contribution limits for Health Savings Accounts (HSAs) to help individuals save for healthcare expenses. It's crucial to know these to make the most out of your HSA.

The maximum HSA contribution for self-only coverage was capped at $3,400. If you had family coverage, that limit expanded to $6,750.

Additionally, those aged 55 and older could make a catch-up contribution of $1,000, allowing them to save even more for their healthcare needs.