What Can I Contribute to HSA in 2017?

When it comes to planning for healthcare expenses, contributing to a Health Savings Account (HSA) can be a smart choice. In 2017, the maximum you could contribute to your HSA was set by the IRS. For 2017, the maximum annual HSA contribution set by the IRS for individuals was $3,400, and for families, it was $6,750.

However, it's crucial to note that these contribution limits are subject to change each year, so it's always a good idea to stay informed about the current limits.

Here are some key points regarding HSA contributions in 2017:

• The maximum annual HSA contribution limits in 2017: $3,400 for individuals and $6,750 for families.
• Individuals aged 55 and older could make an additional catch-up contribution of $1,000 in 2017.
• Contributions to your HSA are tax-deductible, which can help lower your taxable income.
• Funds in your HSA can be used to pay for qualified medical expenses tax-free.
• Unused funds in your HSA can roll over from year to year, unlike Flexible Spending Accounts (FSAs).

When it comes to managing your healthcare costs, a Health Savings Account (HSA) can be a fantastic option. In 2017, the IRS set the maximum annual contribution limits for HSAs at $3,400 for individuals and $6,750 for families. This means that anyone looking to save for future medical expenses could invest in their health and financial well-being.