What is the Max HSA Contribution for 2019?

If you are considering opening or contributing to a Health Savings Account (HSA) in 2019, it's essential to know the maximum contribution limits set by the IRS. For 2019, the maximum HSA contribution amounts are as follows:

• Individual: $3,500
• Family: $7,000

For those aged 55 and older, an additional 'catch-up' contribution of $1,000 is allowed, making the total contribution limits:

• Individual (55+): $4,500
• Family (55+): $8,000

It's important to note that these contribution limits apply to both employee and employer contributions combined. Additionally, these limits are subject to change annually, so it's advisable to stay updated on any adjustments made by the IRS.

If you're planning to make contributions to a Health Savings Account (HSA) in 2019, understanding the maximum contribution limits is crucial. The IRS has set these limits to help individuals save for medical expenses. For the year 2019, the maximum amounts are:

• Individual: $3,500, allowing you to cover your healthcare costs effectively.
• Family: $7,000, which is especially beneficial for those with dependents.

For individuals aged 55 and older, there's a valuable opportunity to contribute even more with the 'catch-up' contribution, which is an additional $1,000. This means:

• Individual (55+): $4,500, giving you a larger safety net for future health expenses.
• Family (55+): $8,000, accommodating the increased healthcare needs that may come with age.

Remember, these limits include both employee and employer contributions combined, and it’s important to be proactive since contribution limits can change yearly. Always check the IRS updates for any adjustments!