What is the Total HSA Contribution Limit for 2019?

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2019 IRS HSA contribution limits

If you're looking to save money for future healthcare expenses while enjoying tax benefits, a Health Savings Account (HSA) could be a great option for you. One common question that people have regarding HSAs is about the contribution limits. In 2019, the total HSA contribution limit for individuals and families are set by the IRS.

For 2019, the total HSA contribution limits are as follows:

• Individuals: $3,500
• Families: $7,000

Catch-up and tax-free growth benefits

It's important to note that these contribution limits include both your own contributions and the contributions made by your employer. If you're 55 or older, you're eligible for an additional catch-up contribution of $1,000 per year.

Contributing to your HSA up to the annual limit not only helps you save for future medical expenses tax-free but also allows your contributions to grow tax-free. This can provide you with significant savings in the long run and help you better manage your healthcare costs.

Are you considering how to best allocate your funds for medical needs? A Health Savings Account (HSA) may be the optimal choice, especially when you understand the contribution limits set by the IRS for 2019. For individuals, the limit is $3,500, while families can contribute up to $7,000. Make sure to take full advantage of these limits for efficient savings!