What is the 2019 Contribution Limit for HSA?

Are you curious about the Health Savings Account (HSA) contribution limit for 2019? Let's dive into the details to help you understand this important aspect of managing your healthcare finances.

The 2019 contribution limit for HSA for individuals is $3,500, and for families, it is $7,000. Additionally, if you are 55 or older, you can make an additional catch-up contribution of $1,000.

HSAs offer a tax-advantaged way to save for medical expenses. The contributions you make to your HSA are tax-deductible, grow tax-free, and can be withdrawn tax-free for qualified medical expenses.

Here are some key points to keep in mind regarding HSA contributions for 2019:

• The contribution limits are set by the IRS each year.
• Contributions can be made by you, your employer, or both.
• You can change your contribution amount throughout the year within the limits.
• Unused funds in your HSA roll over from year to year, unlike with Flexible Spending Accounts (FSAs).

Are you looking for ways to manage your healthcare expenses more efficiently? The Health Savings Account (HSA) contribution limit for 2019 may help you make informed choices about your finances. For individuals, the limit is set at $3,500, while families can contribute up to $7,000. Plus, for those aged 55 and older, there’s the option to add an extra $1,000 to your contributions with a catch-up provision.