What is the Max Amount You Can Put in an HSA Account?

Health Savings Accounts (HSAs) are valuable tools for saving money for medical expenses while also providing tax benefits. One common question individuals have is regarding the maximum amount allowed in an HSA account.

For 2021, the maximum contribution limit for an individual with self-only coverage is $3,600, and for those with family coverage, the limit is $7,200. These limits are set by the IRS and may change annually.

Contributions to an HSA can be made by the account holder, their employer, or both. If you are above 55 years old, you can make an additional

Health Savings Accounts (HSAs) are increasingly popular for individuals seeking to save effectively for their healthcare needs while enjoying excellent tax advantages. It's important to understand how much you can contribute to your HSA each year.

In 2021, the IRS set the contribution limit at $3,600 for those with self-only coverage and $7,200 for individuals with family coverage. Always remember that these limits can adjust yearly, so staying informed is crucial.

Additionally, if you are 55 years or older, you can make an additional catch-up contribution of $1,000, allowing you to save even more for your future medical expenses.