What is the maximum I can put into my HSA pretax?

If you are considering contributing to a Health Savings Account (HSA), one important question you might have is, 'What is the maximum I can put into my HSA pretax?'. Understanding the limits on HSA contributions can help you make informed decisions about your healthcare savings.

The maximum amount you can contribute to your HSA on a pretax basis is set by the IRS each year. This limit includes both your contributions and any contributions made by your employer. As of 2021, the maximum annual contribution limits are:

• $3,600 for individuals
• $7,200 for families
• Individuals aged 55 and older can make an additional catch-up contribution of $1,000

It's essential to keep in mind that these limits are subject to change, so it's crucial to stay up to date with any updates from the IRS. By contributing to your HSA pretax, you can lower your taxable income, save for future medical expenses, and enjoy tax-free growth on your savings.

When it comes to managing your healthcare expenses, knowing how much you can contribute to your Health Savings Account (HSA) on a pretax basis is crucial. The IRS sets annual limits for these contributions, which can help you maximize your tax savings while planning for future medical costs.