2025 HSA contribution limits The HSA contribution limits for 2025 are $4,300 for self-only coverage and $8,550 for family coverage. Those 55 and older can contribute an additional $1,000 as a catch-up contribution. Spousal catch-up contributions If you and your spouse are both age 55 or...
The sum of the monthly contribution limits rule(useLimitation Chart and Worksheet in Form 8889 Instructions). This rule uses the sum of your monthly contributions, which is the amount determined separately for each month based on eligibility and HDHP coverage on the first day of each month, plu...
Health savings accounts, or HSAs, have higher contribution limits in 2024 and 2025, allowing you to save more for your health care expenses.
*While a married couple under a family qualified high deductible health plan share one family HSA contribution limit, they can contribute up to that shared limit in separate accounts and, if both are age 55 or older, each can make a separate $1,000 catch-up contribution to an account in ...
HSA contribution limits The IRS places an annual limit on how much you can deposit in an HSA. In 2023, the limit is $3,850 for individual filers and $7,750 for families, inclusive of any employer contributions. In 2024, the limit is $4,150 for single filers and $8,300 for families...
(including employer contributions). Rollovers that exceed annual HSA contribution limits based on your age at the end of the year and your HDHP coverage (individual or family) at the time of the distribution will result in additional tax on the excess contributions. The rollover cannot be made...
Your age is used to determine if you are eligible to contribute additional catch-up contributions to your HSA. If you are 55 or older and your HDHP is in effect, you are eligible to deposit catch-up contributions. The catch-up contribution amount is $1,000 which is not indexed for ...
3. This calculation assumes you begin your contributions at the age of 30 and annually contribute up to the 2023 HSA contribution limit for family coverage of $7,750 over the entire period. This example also assumes a 6% rate of return, the absence of withdrawals over this 30-year period,...
2024 HSA limits Annual HSA contribution maximum $4,150 for single coverage ($300 increase from $3,850) $8,300 for family coverage ($550 increase from $7,750) Annual catch-up contribution maximum $1,000 (for HSA-eligible individuals age 55 or older) ...
The IRS has increased HSA limits for 2024. We discuss the advantages of these accounts. The IRS has announced the maximum contribution for health savings accounts for 2024. The maximum contribution for those with eligible plans is $4,150 for self-only coverage ($300 increase over 2023) and ...