What is the max you can put into an HSA?

One of the key benefits of having a Health Savings Account (HSA) is the ability to contribute funds to cover medical expenses tax-free. The maximum amount you can contribute to an HSA is determined by IRS guidelines and can vary depending on your individual situation. Understanding the maximum contribution limit is essential for maximizing the benefits of your HSA.

In 2021, the maximum contribution limits for an HSA are $3,600 for individuals and $7,200 for families. If you are 55 or older, you can also make an additional catch-up contribution of $1,000. These limits are set by the IRS and are subject to change each year based on inflation rates. It's important to stay informed about any updates to contribution limits to ensure you are maximizing the benefits of your HSA.

In addition to the contribution limits set for individuals and families, it's vital to recognize that your Health Savings Account (HSA) contributions can directly impact your tax situation, allowing for potential savings on your taxable income.