What is the Maximum HSA Contribution Limit for 2017?

Health Savings Accounts (HSAs) are a great way to save for medical expenses while enjoying tax benefits. For the year 2017, the maximum HSA contribution limit was set by the IRS.

The maximum HSA contribution limit for individuals in 2017 was $3,400, and for families, it was $6,750. If you were 55 or older, you were allowed an additional $1,000 catch-up contribution.

It's important to note that these contribution limits may change from year to year based on inflation adjustments set by the IRS. It's recommended to stay informed about the current limits.

Benefits of contributing to an HSA:

• Tax-deductible contributions
• Tax-free growth on investments
• Tax-free withdrawals for qualified medical expenses

By maxing out your HSA contributions, you can take full advantage of these benefits and secure your healthcare finances.

Health Savings Accounts (HSAs) provide individuals with an excellent opportunity to save funds for both anticipated and unanticipated medical expenses, all while receiving significant tax advantages. In 2017, the IRS established the maximum HSA contribution limits at $3,400 for individuals and $6,750 for families, with an additional $1,000 allowed for those who were age 55 or older as a catch-up option.