What is the Max Contribution to HSA for 2017?

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2017 HSA contribution maximum by coverage type

Health Savings Accounts (HSAs) are a valuable tool for individuals looking to save for medical expenses while enjoying tax benefits. One of the key factors to consider when using an HSA is the maximum contribution limit. For the year 2017, the maximum contribution to an HSA depends on whether you have self-only coverage or family coverage:

• For self-only coverage, the maximum contribution limit is $3,400.
• If you have family coverage, the maximum contribution limit is $6,750.

It's important to note that these amounts are subject to change each year due to inflation adjustments. Contributing the maximum allowed amount to your HSA can help you maximize your tax savings and have funds available for future medical expenses.

Health Savings Accounts (HSAs) are an incredible resource for anyone wanting to set aside money for healthcare costs while reaping tax advantages. In 2017, understanding the maximum contribution limits based on your coverage type is crucial.

Inflation adjustments and maximizing contributions

• For those with self-only coverage, the maximum contribution cap is $3,400.
• For families with family coverage, you can contribute up to $6,750.

These limits are adjusted annually for inflation, so be sure to check each year. By maximizing your contributions, you can not only enjoy significant tax savings but also ensure you have enough savings set aside for medical emergencies.