What is the HSA Maximum Contribution for 2017?

Health Savings Accounts (HSAs) are a tax-advantaged way to save for medical expenses while offering individuals more control over their healthcare dollars. For the year 2017, the maximum contribution limit for an HSA varies depending on whether you have individual or family coverage.

As of 2017:

• The maximum contribution limit for individuals with self-only coverage is $3,400.
• For those with family coverage, the maximum contribution limit is $6,750.
• Individuals who are 55 or older are eligible to make an additional catch-up contribution of $1,000.

It is essential to note that these contribution limits are subject to change each year, so it's crucial to stay updated with the latest information.

In 2017, Health Savings Accounts (HSAs) provided a flexible way to manage and allocate funds for medical expenses, with maximum contribution limits that catered to both individual and family coverage. Individuals with self-only coverage could contribute up to $3,400, while families had a higher limit of $6,750. Plus, if you’re over 55, you could add an additional $1,000 as a catch-up contribution. Don’t forget, these limits can fluctuate each year, so staying informed is key!