What is the maximum HSA for family in 2019?

If you are considering a Health Savings Account (HSA) for your family in 2019, it's essential to know the maximum contribution limits to make the most out of this tax-advantaged savings tool.

For the year 2019, the maximum HSA contribution limits for a family are as follows:

• The total HSA contribution limit for a family is $7,000.
• If you are over the age of 55, you can make an additional 'catch-up' contribution of $1,000, bringing the total to $8,000 for families.

HSAs offer a way to save and invest for medical expenses, tax-free. Understanding the maximum limits for contributions can help you plan and utilize this valuable resource effectively for your family's healthcare needs.

If you are planning for your family's healthcare needs in 2019, it's crucial to stay informed about the maximum contribution limits for Health Savings Accounts (HSAs). This tool can significantly help you in saving for medical expenses.

In 2019, families can contribute up to $7,000 to their HSA. If you or your spouse are 55 or older, you can take advantage of an additional 'catch-up' contribution of $1,000, which raises your total potential contribution to $8,000 for the year.

Utilizing HSAs efficiently means not only saving money for health expenses but also enjoying tax benefits. Contributions to your HSA are tax-deductible, and withdrawals for qualifying medical expenses are tax-free!