What is the maximum amount of HSA contribution in 2017 for self-only 55?

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2017 self-only HSA limit for age 55+

Health Savings Accounts (HSAs) are a great way to save for medical expenses while also reducing your taxable income. If you're 55 or older and have a self-only HSA in 2017, you may be wondering what the maximum contribution limit is for your age group.

In 2017, the maximum amount of HSA contribution for individuals with self-only coverage who are 55 or older was $4,400. This is $1,000 higher than the regular contribution limit for individuals under 55, which was $3,400 for self-only coverage.

It's important to note that these contribution limits are set by the IRS and are subject to change each year based on inflation adjustments. So, if you're 55 or older and have a self-only HSA, be sure to check the latest IRS guidelines for the most up-to-date information on contribution limits.

Why the 55+ limit included catch-up

Health Savings Accounts (HSAs) provide individuals with a savvy way to save on medical expenses while potentially lowering their tax burden. For those aged 55 or older enrolling in a self-only HSA in 2017, you had the opportunity to contribute up to $4,400, which includes an extra catch-up contribution of $1,000, acknowledging the financial realities of health care at that age.