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. HSA eligibility To contribute to an HSA, you must be enrolled in an HSA-eligible health plan. For ...
Health savings accounts, or HSAs, have higher contribution limits in 2024, allowing you to save more for healthcare expenses if you’re using a high-deductible healthcare plan. AnHSAprovides you with key tax advantages, including the potential for a triple tax benefit: tax-free contributions, ...
You can see the difference between the 2023 and 2024 HSA maximum contribution amounts in the chart below. Contribution Limits for Health Savings Accounts Under HDHPs (*Individual means self-only coverage.) Header Cell - Column 0 20242023Change HSA Contribution Limit Individual: $4,150 Individual:...
2025 HSA Contribution Limits How much money can you set aside for future healthcare spending with an HSA? The maximum annual contribution depends on whether you are on an individual or family plan. In 2024, individuals can contribute $4,300 and families can contribute $8,550. If you’re 55...
Limits on Out-of-Pocket Expenses The health plan must also have a limit on out-of-pocket medical expenses that you're required to pay. Out-of-pocket expenses include deductibles, copayments and other amounts, but don't include premiums. For 2023, the out-of-pocket limit for s...
You must be enrolled in a HSA-eligible High Deductible Health Plan (HDHP) in order to make contributions to an HSA. In 2022, the minimum deductible is at least $1,400 for an individual and $2,800 for a family plan. For 2023: Must have a minimum deductible of $1,500 for individual...
The history of the Health Savings Account limit (HSA) from 2004 until 2024, including age 55+ catch-ups, family limits, and health plan restrictions.
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 ...
You can open an HSA if you have a qualifying high-deductible health plan. For the 2022 tax year, the maximum contribution amounts are $3,650 for individuals and $7,300 for family coverage.3 For 2023, the maximum amounts are $3,850 for individuals and $7,750 for families.4 If you ...
An HSA is available only to people who choose a high-deductible health insurance plan, which may not be for everyone. High-deductible plans best suit people who are currently healthy, have no ongoing medical issues, and dislike paying more monthly than they have to in premiums. It helps if...