2017 HSA Contribution Limits: What You Need to Know

When it comes to Health Savings Accounts (HSAs), one crucial aspect to consider is the contribution limits set for each year. In 2017, the limits for HSA contributions were as follows:

• For individuals: $3,400
• For families: $6,750
• Individuals aged 55 and older could contribute an additional $1,000 as a catch-up contribution

Understanding these limits is essential for maximizing the benefits of an HSA and planning for healthcare expenses effectively. By knowing the contributions allowed, individuals and families can make informed decisions about saving for medical costs and taking advantage of the tax benefits provided by HSAs.

Maximizing your Health Savings Account (HSA) contributions is crucial for financial planning. In 2017, the contribution limits were clearly defined: $3,400 for individuals and $6,750 for families. If you were 55 or older, you could also add an extra $1,000 to your HSA, allowing for better preparation for healthcare costs.