What is the 2019 Maximum HSA Contribution?

If you're looking to maximize your health savings account (HSA) contributions in 2019, it's essential to stay informed about the updated limits. The 2019 maximum HSA contribution for individuals and families has risen compared to the previous year, providing an opportunity for individuals to save more money for their healthcare expenses tax-free.

The 2019 maximum HSA contribution limits are as follows:

• For an individual with self-only coverage, the maximum contribution is $3,500.
• For individuals with family coverage, the maximum contribution is $7,000.
• Individuals aged 55 and older can make an additional catch-up contribution of $1,000.

Contributing the maximum allowable amount to your HSA can offer various benefits, including tax advantages, flexibility in covering medical costs, and the potential for long-term savings. It's important to review and understand these limits to make the most of your HSA.

When considering your health savings account (HSA) contributions, it's vital to understand the 2019 maximum limits that can significantly impact your healthcare savings strategy. The contribution limits saw an increase this year, allowing more room for financial flexibility as you plan for medical expenses.