What is the current maximum amount you can contribute to an HSA for 2019?

If you are considering opening or already have a Health Savings Account (HSA), you may be wondering about the maximum contribution limit for 2019. For the year 2019, the maximum amount that an individual with self-only coverage can contribute to their HSA is $3,500. If you have family coverage, the maximum contribution limit increases to $7,000.

These contribution limits are set by the IRS and are adjusted annually for inflation. It's important to note that if you are 55 or older, you are eligible to make an additional catch-up contribution of $1,000 to your HSA, regardless of whether you have self-only or family coverage.

Contributing to an HSA offers individuals a tax-advantaged way to save for current and future medical expenses. The funds deposited into an HSA are tax-deductible, grow tax-free, and can be withdrawn tax-free to pay for qualified medical expenses.

Curious about HSAs? For 2019, the IRS allows individuals with self-only coverage to contribute a maximum of $3,500, while those with family coverage can contribute up to $7,000.