What is the Maximum Contribution for 2017 HSA?

Health Savings Accounts (HSAs) are a great way to save money for medical expenses while enjoying tax benefits. If you're wondering about the maximum contribution for 2017 HSA, you've come to the right place!

In 2017, the maximum contribution for an individual with self-only coverage is $3,400. For those with family coverage, the maximum contribution is $6,750. These limits include both employer and employee contributions.

Contributions to an HSA are tax-deductible, meaning you can lower your taxable income by contributing to your account. The money in your HSA can be used tax-free for qualified medical expenses, making it a valuable savings tool.

It's important to note that if you are 55 or older, you are eligible for an additional $1,000 catch-up contribution to your HSA. This allows older individuals to save even more for healthcare expenses in retirement.

Health Savings Accounts (HSAs) offer an excellent opportunity to save for medical costs while enjoying significant tax advantages. For the year 2017, individuals with self-only coverage can contribute up to $3,400, while those with family coverage can stash away up to $6,750. Remember, these limits cover both your contributions and any contributions made by your employer.