What is the Maximum Contribution for an HSA in 2017?

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2017 HSA maximum contribution limits

Are you curious about the maximum contribution for an HSA (Health Savings Account) in 2017? One of the most common questions individuals have about HSAs is how much money they can contribute to their account each year. In 2017, the maximum contribution limit for an individual with self-only coverage was $3,400, and for those with family coverage, it was $6,750. These limits are set by the IRS and are subject to change each year to account for inflation.

Did you know that the maximum contribution for an HSA (Health Savings Account) in 2017 was $3,400 for individuals with self-only coverage and $6,750 for those with family coverage? These limits, set by the IRS, not only aim to mitigate rising healthcare costs but also encourage individuals to save for medical expenses while taking advantage of tax benefits.

Benefits and catch-up contributions in 2017

Contributing the maximum allowed amount to your HSA can help you save for future medical expenses and enjoy the tax benefits that come with these accounts. It's important to note that individuals aged 55 and older are eligible for an additional catch-up contribution of $1,000 per year.