What is the HSA contribution limit for 53 year olds for the 2019 tax year?

If you're 53 years old and considering contributing to a Health Savings Account (HSA) for the 2019 tax year, it's essential to know what the contribution limit is for your age group.

For the 2019 tax year, individuals aged 55 and older are allowed to make catch-up contributions to their HSA accounts. The total contribution limit for individuals aged 55 and above is $4,500.

This means that if you are 53 years old, you can contribute up to the standard HSA contribution limit of $3,500 for individuals in the 55 and below age group, plus an additional catch-up contribution of $1,000, bringing your total contribution limit to $4,500 for the 2019 tax year.

Contributing to an HSA not only allows you to save for medical expenses tax-free but also provides you with a valuable financial tool for future healthcare costs.

If you’re 53 years old and thinking about contributing to a Health Savings Account (HSA) for the 2019 tax year, you’re in the right place! The contribution limits can help you maximize your savings for medical expenses.