What is the Max You Can Contribute to HSA?

Are you wondering about the maximum contribution limit for your HSA (Health Savings Account)? Let's dive into this important topic to help you understand how much you can save for your healthcare expenses.

The maximum you can contribute to an HSA depends on whether you have self-only or family coverage. For 2021, the annual contribution limits are:

• Self-only coverage: $3,600
• Family coverage: $7,200

If you are 55 or older, you can make an additional catch-up contribution of $1,000 per year. This can help you save even more for your future medical needs.

It's important to note that these contribution limits are set by the IRS and may change each year based on inflation adjustments. Be sure to stay informed about any updates to ensure you are maximizing your HSA contributions.

Are you curious about how much you can contribute to your HSA (Health Savings Account)? Understanding the contribution limits is vital for planning your healthcare savings. For the year 2021, the IRS has set the contribution limits depending on your coverage type:

• For self-only coverage: you can contribute up to $3,600.
• If you have family coverage, the limit increases to $7,200.

Additionally, those who are 55 years or older can take advantage of a catch-up contribution, allowing you to add an extra $1,000 annually. This is a great opportunity to bolster your savings for potential medical expenses as you age!

Remember, these limits are subject to annual adjustments for inflation, so keep an eye out for updates to maximize your contributions each year.