What is the Maximum Annual HSA Deposit Allowed for 2017?

If you're considering opening a Health Savings Account (HSA) or already have one, knowing the maximum annual deposit allowed for 2017 is essential. In 2017, the maximum annual HSA deposit allowed is determined by the IRS and varies depending on whether you have self-only or family coverage.

For self-only coverage, the maximum annual HSA deposit allowed in 2017 is $3,400. If you have family coverage, the maximum annual HSA deposit allowed is $6,750. These limits are set by the IRS and are subject to change each year based on inflation adjustments.

It's important to note that these limits include both your contributions and any contributions made by your employer. If you're 55 or older, you're eligible to make an additional catch-up contribution of $1,000 per year on top of the regular limit.

Contributing to your HSA up to the maximum annual deposit allowed can provide you with significant tax advantages and help you save for future medical expenses. By understanding and maximizing your HSA contributions, you can take full advantage of this valuable healthcare savings tool.

In 2017, if you're looking to maximize your Health Savings Account (HSA) contributions, it's crucial to know that the IRS has set distinct annual limits based on your coverage type. For those with self-only coverage, the maximum deposit you can make is $3,400, while families can contribute up to $6,750. Staying informed about these limits is key to making the most of your savings.