What is the most you can put in an HSA in a year?

Health Savings Accounts (HSAs) are a great way to save for medical expenses while enjoying tax advantages. If you're considering opening an HSA, you might be wondering, 'what is the most you can put in an HSA in a year?'

For 2021, the annual contribution limit is

• $3,600 for individuals
• $7,200 for families (those with self-only HDHP coverage)
• Individuals aged 55 and older can contribute an additional $1,000 as a 'catch-up' contribution

It's important to note that these limits are subject to change each year, so make sure to check with the IRS for the most up-to-date information.

Health Savings Accounts (HSAs) are an excellent tool for managing medical expenses efficiently while benefiting from tax incentives. If you're curious about the annual contribution cap for an HSA, you're in the right place!

For the year 2021, here's how the contribution limits are structured:

• Individuals can contribute up to $3,600.
• Families have a higher limit of $7,200, applicable to those with self-only High Deductible Health Plan (HDHP) coverage.
• Additionally, individuals aged 55 and older can take advantage of a 'catch-up' contribution, allowing them to add an extra $1,000 to their HSA.

Keep in mind that these limits are adjusted each year, and it's wise to verify the latest details directly from the IRS.