What is the Maximum Allowed Contribution for HSA in 2017?

Health Savings Accounts (HSAs) are a great way to save for medical expenses while enjoying tax benefits. For the year 2017, the maximum allowed contribution for an HSA depends on whether you have self-only or family coverage under a high deductible health plan. Here's a breakdown:

• For self-only coverage: The maximum contribution allowed in 2017 is $3,400.
• For family coverage: The maximum contribution allowed in 2017 is $6,750.

It's important to note that these contribution limits are subject to change each year, so it's essential to stay updated on the latest regulations.

Health Savings Accounts (HSAs) serve as a powerful tool for individuals looking to manage medical expenses efficiently while reaping significant tax benefits. As we look back at 2017, it’s important to note the maximum allowed contributions based on your health plan type. For those with self-only coverage, the limit was set at $3,400, while families could contribute up to $6,750. Never forget that HSAs offer you the unique advantage of rolling over unused funds, making them a smart long-term choice for healthcare savings.