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A Health Savings Account (HSA) is a tax-advantaged savings account eligible for those who are enrolled in a qualifying high deductible health plan (HDHP). ... The contribution limit for 2025 has ...
An HSA provides you with key tax advantages, including the potential for a triple tax benefit: tax-free contributions, tax-free capital gains and tax-free withdrawals used for health care expenses.
The new 2025 annual limit for a health savings account will be $4,300, up from $4,150. ... For family coverage, the HSA contribution limit rises to $8,550 from $8,300 this year.
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. If you have access to this type of account, it's a good idea to make the most of the...
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 2025, the IRS raised the contribution limits to $4,300 for individuals and $8,550 for families. If you’re 55 or older, you can contribute an additional $1,000 as a catch-up.
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 .