What is the 2017 HSA Contribution Limit?

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2017 IRS HSA contribution limits

If you're looking to maximize your health savings account (HSA) contributions for 2017, it's important to know the limit set by the IRS. For 2017, the HSA contribution limit was $3,400 for individuals and $6,750 for families. These limits include both your contributions and any contributions made by your employer. It's crucial to stay within these limits to avoid any tax penalties.

If you're planning to boost your health savings account (HSA) contributions this year, staying informed about the IRS limits is key. In 2017, the contribution limit was set at $3,400 for individuals and $6,750 for families. This means you can combine your own contributions with those made by your employer to reach these totals. Ensuring you stay within these limits can help you avoid any unwanted tax penalties.

Tax benefits of contributing to an HSA

Contributing to an HSA can provide significant tax benefits, as the contributions are tax-deductible, the interest and earnings grow tax-free, and withdrawals for qualified medical expenses are also tax-free. It's a great way to save for healthcare costs while reducing your taxable income.