HSA Guide
What is the maximum contribution to an HSA in 2017?
Published September 21, 2024
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Get the app2017 IRS HSA contribution limits overview
If you are considering a Health Savings Account (HSA) for your healthcare needs, you may be wondering about the maximum contribution you can make in 2017. It's crucial to understand the limits set by the IRS to make informed decisions about your HSA.
In 2017, the maximum contribution to an HSA for an individual was $3,400, and for families, it was $6,750. These limits include both your own contributions and any contributions made by your employer. This means that if you are under the age of 55, you could contribute up to $3,400 as an individual or up to $6,750 for a family HSA.
It's important to note that these contribution limits are set by the IRS and are subject to change each year. Making the maximum contribution to your HSA can provide you with significant tax benefits and a way to save for future healthcare expenses.
How limits apply to individuals and families
Are you exploring the benefits of a Health Savings Account (HSA)? Understanding the maximum contribution limits set by the IRS for 2017 is essential for optimizing your savings.
In 2017, individuals could contribute up to $3,400, while families had a limit of $6,750. Remember that these contributions encompass both personal and employer contributions, which means you can maximize your contributions to take full advantage of the tax benefits.
Catch-up contributions for age 55+
If you're aged 55 or older, you were allowed an additional catch-up contribution of $1,000. This can significantly bolster your savings for future medical expenses.