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HSA-Qualified HDHP Self Coverage: Annual deductible must be $1,600 or more in 2024 (up $100 from 2023) and annual out-of-pocket expenses cannot exceed $8,050 (up $550 from 2023) HSA Contribution ...
The average combined HSA contribution was $927 less than the statutory maximum for individual coverage and $4,527 less than the maximum for family coverage, according to the report.
Line 3: Enter the maximum allowable contribution for your coverage (self-only or family). Line 9 : Enter the contributions made by your employer (found on Form W-2 in Box 12). Line 13 : Calculate ...
A taxpayer can generally make contributions to a health savings account for a given tax year until the deadline for filing the individual's income tax returns for that year, which is typically April 15. [25] All contributions to a health savings account from both the employer and the employee count toward the annual maximum.
A health savings account (HSA) is a tax-advantaged account designed to help you save for future medical costs. ... it’s time to make the most of this opportunity — try to hit your contribution ...
In addition to eligibility requirements, contribution limits apply when you fund your HSA. For 2024, individuals can contribute up to $4,150 and $8,300 for families .
If you’re single with an individual HSA-qualified health plan, your HSA contribution limit increases from $4,150 in 2024 to $4,300 in 2025. If you have a family plan, your limit increases from ...
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.