What is HSA Max Amount for 2019? All you need to know about HSA contribution limits

Health Savings Accounts (HSAs) are a valuable tool for saving money on medical expenses while also reducing your taxable income. One of the key factors to consider when contributing to an HSA is the annual maximum limit set by the IRS. So, what is the HSA max amount for 2019?

In 2019, the maximum contribution limit for an individual with self-only coverage is $3,500, and for those with family coverage, the limit is $7,000. These limits include both your contributions and any contributions made by your employer.

It's important to note that these limits are subject to change each year, so it's essential to stay updated on the current limits to maximize the benefits of your HSA.

Here are some key points to keep in mind about HSA contribution limits for 2019:

• The HSA contribution limits are set by the IRS and are adjusted annually for inflation.
• For individuals with self-only coverage, the maximum contribution limit for 2019 is $3,500.
• For individuals with family coverage, the maximum contribution limit for 2019 is $7,000.
• These limits include both your contributions and any contributions made by your employer.
• Contributions made to your HSA are tax-deductible, and any earnings grow tax-free as long as they are used for qualified medical expenses.

Understanding the Health Savings Account (HSA) contribution limits for 2019 is essential for maximizing your savings on medical expenses, with individual limits set at $3,500 and family limits at $7,000. Be sure to take advantage of these generous thresholds!