What is the max you can put into an HSA in 2019?

Health Savings Accounts (HSAs) are a great way to save for medical expenses while enjoying tax benefits. If you're considering opening an HSA or already have one, you might be wondering, 'What is the max you can put into an HSA in 2019?'

In 2019, the maximum contribution limit for an individual with self-only coverage in an HSA is $3,500. For those with family coverage, the limit is $7,000. Additionally, individuals age 55 and older can make an extra 'catch-up' contribution of $1,000 per year.

It's important to note that these contribution limits are set by the IRS and are subject to change each year. Making the maximum contribution to your HSA can help you maximize your tax savings and build a strong financial cushion for future medical expenses.

Health Savings Accounts (HSAs) provide a smart way to save for medical expenses while providing tax advantages. If you're asking yourself, 'What is the max you can put into an HSA in 2019?' let’s break it down for you.

For the tax year 2019, individuals with self-only coverage in an HSA could contribute a maximum of $3,500. If you're covered by a family plan, that limit rises to $7,000. And don’t forget, if you're 55 or older, you can take advantage of an extra 'catch-up' contribution of $1,000, enhancing your savings potential!

These contribution limits, which the IRS directs, can change annually, so it's essential to keep updated. By maximizing your HSA contributions, you not only boost your tax savings but also build a significant financial buffer for upcoming medical expenses, reinforcing your overall financial wellness.