What Is the Maximum You Can Put on a HSA?

Health Savings Accounts (HSAs) are a valuable tool for managing healthcare expenses while saving on taxes. One common question that arises among individuals considering an HSA is, 'What is the maximum you can put on a HSA?'

As of 2021, the maximum amount you can contribute to an HSA is:

• $3,600 for individuals
• $7,200 for families
• Additional $1,000 catch-up contribution for individuals aged 55 and older

Contributions to an HSA are tax-deductible, grow tax-free, and can be withdrawn tax-free for qualified medical expenses. Being aware of the contribution limits allows individuals to make the most of their HSA benefits.

Health Savings Accounts (HSAs) are an essential tool for individuals looking to save on healthcare costs while enjoying significant tax advantages. One of the most frequently asked questions regarding HSAs is, 'What is the maximum you can put on a HSA?'

As of 2021, the contribution limits to an HSA are set at:

• $3,600 for individuals
• $7,200 for families
• An additional $1,000 catch-up contribution for those aged 55 and older

Keeping in mind these limits is crucial for maximizing your savings potential. Every dollar contributed is tax-deductible, your funds grow tax-free, and withdrawals for eligible medical expenses won't incur taxes, making HSAs a versatile choice for your healthcare economy.