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This "catch up" contribution limit was set to $500 for 2004, increasing $100 each year until it reached a maximum of $1,000 in 2009. [20] For 2019, the contribution limit was $3,500 for single or $7,000 for married couples and families. [21] For 2020, the contribution limit is $3,550 for single or $7,100 for married couples and families. [22]
First, HSA contribution limits increased by $50 in 2022 for self-only coverage, from $3,600 to $3,650. Folks with family plans can contribute up to $7,300 in 2022, which is $100 up from 2021.
The maximum contribution limits policy holders may make to their HSA in 2024 are $4,150 (individual) and $8,300 (family) [15] with a $1,000 catch-up contribution for people age 55 or older. [ 24 ] Emerging issues
HSA Contribution Limits. Both employers and employees can make HSA contributions each year, according to the limits set by the IRS. HSA contribution limits are determined by the type of coverage ...
The Act retroactively extended for two years (through December 31, 2007) certain provisions that had expired at the end of 2005, including: Above the line deduction for qualified tuition and higher education expenses; Elective itemized deduction for state and local general sales taxes (in lieu of a deduction for state and local income taxes)
The annual maximum contribution for an HSA (with pre-tax dollars) in 2024 is $4,150 for an individual and $8,300 for a family. If you’re 55 or older, you can take advantage of an extra $1,000 ...
The exception to this is the state of California where MSA contributions are deductible on a state level and HSA contributions are not. [3] Since the Archer MSA is a pilot program, it must be extended periodically by the US Treasury Department. The present extension of the program ended December 31, 2007.
It might not be too late to get yourself a little extra tax savings by contributing money to a traditional IRA. If you qualify for a deductible contribution in 2007, you can still do it, so long ...