HSA Account Contribution Limits for 2019: What is the Max to Put In?

When it comes to saving for healthcare expenses, HSA (Health Savings Account) is a powerful tool that offers tax advantages. One common question people have is, 'What is the maximum amount I can contribute to my HSA account for 2019?'

For 2019, the maximum HSA contribution limits are:

• Individual Coverage: $3,500
• Family Coverage: $7,000

Contributions to an HSA are tax-deductible, grow tax-free, and can be withdrawn tax-free for qualified medical expenses. Understanding the contribution limits is crucial to maximize the benefits of an HSA.

It's important to note that individuals aged 55 and older can make an additional 'catch-up' contribution of $1,000 per year. This catch-up contribution is designed to help older individuals save more for healthcare expenses as they near retirement.

Saving for healthcare costs has never been easier with a Health Savings Account (HSA), which not only offers tax advantages but also allows you to build a nest egg for future medical expenses. In 2019, understanding the contribution limits is critical to optimizing your savings strategy.

Maximum Contribution Limits for 2019:

• Individual Coverage: $3,500
• Family Coverage: $7,000

Contributing to an HSA not only helps in reducing your taxable income but also allows your earnings to grow tax-free. It's a win-win!

Additionally, if you're 55 or older, you can take advantage of a 'catch-up' contribution of $1,000 per year, helping you beef up your healthcare savings just when you need it most.