What is the Maximum HSA Contribution Limit for 2017?

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2017 HSA contribution limits by coverage

Health Savings Accounts (HSAs) are a great way to save for medical expenses while also enjoying tax benefits. One important aspect of HSAs is the maximum contribution limit set by the IRS each year. For the year 2017, the maximum HSA contribution limit was $3,400 for individuals with self-only coverage and $6,750 for individuals with family coverage.

Health Savings Accounts (HSAs) not only offer a smart way to save for medical expenses, but they also come with significant tax advantages. For 2017, the IRS established contribution limits that were set at $3,400 for individuals with self-only coverage and $6,750 for those opting for family coverage.

How limits work and catch-up amount

It's important to note that these contribution limits include both employer and employee contributions combined. If you are 55 years or older, you can make an additional catch-up contribution of $1,000 per year.

Why maximizing contributions matters

Maximizing your HSA contributions can help you take full advantage of the tax benefits and ensure that you have enough funds set aside for future medical expenses. Remember that unused funds in your HSA roll over year after year, so you can continue to grow your savings over time.