In May, the IRS announced an increase to the annual HSA contribution limits for 2025. Eligible taxpayers can contribute up to $4,300 to self-only plans and $8,550 to family plans.

The Health Savings Account contribution limits for 2024 are $4,150 for individuals and $8,300 for families. Those 55 and older can make an additional $1,000 as a catch-up contribution.

Under current law, the 2025 HSA contribution cap is $4,300 for individuals and $8,550 for families, with an extra $1,000 allowed for people age 55 or older. The House bill would have raised those ...

HSA Contribution Limits The IRS sets contribution limits for HSAs, adjusted each year for inflation. For 2024, the contribution limit is $4,150 for individuals with self-only coverage under an ...

To be eligible to contribute to an HSA, you must have an HSA-qualified HDHP and have not yet enrolled in Medicare. Medicare typically begins at age 65. The IRS also updated the definition of an ...

However, those aged 55 and older can make additional catch-up contributions of $1,000. And in 2025, HSA contribution limits will be $4,300 for individual coverage or $8,550 for family coverage.

For 2024, individuals under a high deductible health plan (HDHP) have an HSA annual contribution limit of $4,150. The HSA contribution limit for family coverage is $8,300.

Maximize your HSA in 2025 to reap tax benefits, save on out-of-pocket health care costs, and even plan for retirement. Here's what you need to know.

The maximum tax-deductible HSA contributions for 2023 are $3,850 for individuals or $7,750 for families. Anyone age 55 or older can contribute an additional $1,000 per year.

If Jill front-loads her HSA contributions in January and puts in the annual maximum of $4,850, she’ll find at tax time next year she’s over-contributed by $2,021.

5. Penalties for excess contributions: Contributing more than allowed to an HSA can result in excess contribution penalties, emphasizing the importance of understanding these rules.

Health savings accounts (HSAs) are a tax-advantaged way to save for medical expenses. Employer contributions to a health savings account are often part of this benefits package, which helps ...