What is the IRS HSA Contribution Limit for 2019?

When it comes to planning your finances and healthcare, understanding your Health Savings Account (HSA) can be crucial. One important factor to consider is the IRS HSA contribution limit for 2019.

For the tax year 2019, the IRS HSA contribution limits are as follows:

• For individuals: $3,500
• For families: $7,000
• Additional catch-up contribution for those aged 55 and older: $1,000

These limits represent the maximum amount of money you can contribute to your HSA for the year, including both your own contributions and any contributions made by your employer.

It's important to note that these limits are subject to change each year due to inflation adjustments, so it's a good idea to stay informed about any updates from the IRS.

Understanding your Health Savings Account (HSA) is crucial for your financial and healthcare planning. For the tax year 2019, it’s important to know the IRS HSA contribution limits to maximize your savings.

For individuals, the contribution limit is set at $3,500, while families can contribute up to $7,000. If you’re 55 or older, you can also take advantage of an additional catch-up contribution of $1,000.

Keep in mind that these thresholds are the maximum amounts allowed for the year and encompass both your own contributions as well as those made by your employer. Staying informed about any annual changes is vital as these limits can fluctuate based on inflation adjustments.