What is the HSA Limit if Each Spouse Has Self-Only HDHP?

Health Savings Accounts (HSAs) are a valuable tool for individuals and families to save for medical expenses while enjoying tax benefits. If each spouse has a Self-Only High Deductible Health Plan (HDHP), they can both contribute to their respective HSAs. It's important to know the HSA limit for each spouse in this scenario.

For the year 2021, the IRS has set the HSA contribution limit at $3,600 for individuals with Self-Only HDHP coverage. This means that each spouse can contribute up to $3,600 to their HSA if they have separate Self-Only HDHP coverage.

It's crucial to stay informed about the HSA contribution limits, as they can change annually. By maximizing your HSA contributions, you can benefit from tax advantages and build a financial safety net for future healthcare expenses.

Health Savings Accounts (HSAs) provide an opportunity for couples with Self-Only High Deductible Health Plans (HDHP) to double their savings. For 2021, each spouse can contribute up to the HSA limit of $3,600, which not only helps cover out-of-pocket medical expenses but also offers significant tax advantages. By leveraging both HSAs, you can effectively safeguard your finances against rising healthcare costs.