What is HSA Contribution for 2017?

Health Savings Account (HSA) contributions for the year 2017 were based on individual or family coverage and age constraints. It's important to understand how much you can contribute to your HSA to take full advantage of the benefits it offers.

For 2017, the HSA contribution limits were:

• Individual coverage: $3,400
• Family coverage: $6,750
• Additional catch-up contributions for individuals aged 55 and older: $1,000

Contributions to your HSA are tax-deductible, grow tax-free, and can be withdrawn tax-free when used for qualified medical expenses. These tax advantages make HSA a valuable tool for managing healthcare costs.

Understanding the Health Savings Account (HSA) contribution limits for 2017 is essential for maximizing your healthcare savings.

For individuals with self-only coverage, the HSA contribution limit was set at $3,400, while families could contribute up to $6,750. Additionally, individuals aged 55 and older were allowed to make a catch-up contribution of $1,000, making it easier to save for future healthcare expenses.