Health Saving Account Contribution Limit 2017 Adjusts to New Maximums

The Health Saving Account contribution limit for 2017 has increased to $6,750 for families and $3,350 for individuals, allowing you to save more for medical expenses.

These new maximums reflect a 3.4% increase from the previous year, which is a welcome boost for those looking to make the most of their HSA.

You can contribute up to $6,750 to an HSA for family coverage, which can be a big help with medical bills and expenses.

This increase is great news for those who have been struggling to cover medical costs, and it's a testament to the growing importance of HSAs in healthcare financing.

A different take: Health Savings Accounts Eligible Expenses

The 2017 HSA contribution limits are a crucial piece of information for anyone considering opening or contributing to a Health Savings Account. The individual maximum tax-deductible contribution limit is $3,400, which is a $50 increase from the previous year.

For families, the maximum HSA contribution remains at $6,750. This is the same as the previous year, but it's still a significant amount that can help families save for medical expenses.

If you're 55 or older, you're eligible for an additional "catch-up" contribution of $1,000. This is a great way to boost your savings and prepare for future medical expenses.

Here are the 2017 HSA contribution limits in a quick reference table:

Keep in mind that these limits apply to the maximum amount you can contribute to an HSA in a given year. If you're unsure about your specific situation or have questions about HSA contributions, it's always a good idea to consult with a benefits and tax professional.

The 2017 Health Savings Account (HSA) limits are an important consideration for anyone looking to contribute to an HSA. The IRS has announced the 2017 HSA contribution limits, and it's a good idea to understand what they are.

The 2017 HSA contribution limit for individuals with self-only HDHP coverage is $3,400, and the limit for individuals with family HDHP coverage is $6,750. This is an increase of $50 from the 2016 limit for individuals with self-only HDHP coverage.

Here's an interesting read: Self Employed Health Insurance Deduction Limit

To be eligible for an HSA, you must have a high-deductible health plan (HDHP) that meets the IRS's minimum deductible requirements. For 2017, the minimum annual deductible for self-only HDHP coverage is $1,300, and the minimum annual deductible for family HDHP coverage is $2,600.

The HDHP out-of-pocket maximums for 2017 are also important to consider. The maximum limit on out-of-pocket expenses for self-only HDHP coverage is $6,550, and the limit for family HDHP coverage is $13,100.

Here's a summary of the 2017 HSA limits:

It's worth noting that the IRS's governing rules and the eligibility criteria for an HSA can be complex, so it's a good idea to consult with a benefits and tax professional if you have any questions or concerns.

The IRS announced the 2017 cost-of-living adjusted limits for health savings accounts (HSAs) and high-deductible health plans (HDHPs).

The 2017 annual HSA contribution limit for individuals with self-only HDHP coverage is $3,400, and the limit for individuals with family HDHP coverage is $6,750.

The HDHP minimum annual deductible for self-only coverage is $1,300, and the minimum annual deductible for family coverage is $2,600.

The HDHP out-of-pocket maximums for 2017 are $6,550 for self-only coverage and $13,100 for family coverage.

Here's a summary of the 2017 HSA contribution limits and HDHP minimum deductibles and out-of-pocket maximums:

The IRS's governing rules and the eligibility criteria for an HSA can be complex, so it's essential to consult with a benefits and tax professional when questions arise.