What is the 2019 HSA Limit?

If you're looking to save for medical expenses while gaining tax advantages, a Health Savings Account (HSA) can be a great option. In 2019, the HSA contribution limits were set by the IRS, determining the maximum amount you could contribute to your account for the year. For individuals with self-only coverage, the HSA limit was $3,500, and for those with family coverage, the limit was $7,000.

Contributions to an HSA are tax-deductible, grow tax-free, and can be withdrawn tax-free for qualified medical expenses. It's a smart way to save for healthcare costs while also reducing your taxable income.

If you're someone who is actively looking for ways to save for medical expenses while enjoying fantastic tax advantages, consider opening a Health Savings Account (HSA). In 2019, the IRS established specific contribution limits to help you maximize your savings potential. For individuals enrolled in self-only coverage, the contributions were capped at $3,500, while families could contribute up to $7,000. These limits encouraged many people to start thinking seriously about their healthcare financing.