What is the 2019 Contribution Limit for HSA Account?

Health Savings Accounts (HSAs) are a great way to save for medical expenses while also enjoying tax advantages. One crucial aspect of HSA accounts is knowing the contribution limits set by the IRS each year.

For the year 2019, the contribution limit for an individual with self-only coverage is $3,500, while for those with family coverage, the limit is $7,000. These limits represent the maximum amount that can be deposited into an HSA account for the respective coverage types.

Health Savings Accounts (HSAs) provide an incredible opportunity to build savings for medical costs, all while enjoying significant tax breaks. Understanding the IRS contribution limits is essential to maximizing your savings potential.

In 2019, individuals covered by self-only plans could contribute up to $3,500 to their HSA. For those with family plans, the limit was set at $7,000. These limits offer a clear framework for how much you can save in a tax-advantaged manner each year.