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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 catch-up contribution limit for those over 50 is $6,500. ... Don't Forget About HSA Contributions ... for cash contributions only, through the end of 2021, so you can deduct up to 100% of your ...
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.
For individuals ages 50 or older, the annual contribution limit for the 2023 tax year was $7,500 or the total taxable compensation if less than $7,500. 2. Tax-Deductible HSA Contributions
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.
Here’s an overview of how health savings accounts work and how you can open one.