What is HSA Maximum Contribution for 2017?

If you are looking to maximize your health savings account (HSA) for the year 2017, it's important to know the annual contribution limit set by the IRS. The HSA maximum contribution for 2017 is dependent on whether you have self-only or family coverage.

For 2017, the HSA maximum contribution limits are as follows:

• Self-only coverage: $3,400
• Family coverage: $6,750

It's crucial to keep in mind that these contribution limits include both your contributions and any contributions made by your employer on your behalf. If you are 55 years or older, you are eligible to make an additional catch-up contribution of $1,000.

Contributing the maximum allowed amount to your HSA can provide you with significant tax advantages and help you save for future medical expenses. By planning ahead and utilizing your HSA effectively, you can ensure that you have funds available for healthcare costs while also enjoying tax benefits.

To maximize your health savings account (HSA) in 2017, it's essential to be aware of the annual contribution limits established by the IRS, which vary depending on your coverage type.