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How much can I contribute to my HSA?

For 2021, the maximum contribution for an eligible individual with self-only coverage is $3,600 and the maximum contribution for an eligible individual with family coverage is $7,200. Individuals who are eligible individuals on the first day of the last month of the taxable year (December for most taxpayers) are allowed the full annual contribution (plus catch up contribution, if 55 or older by year end), regardless of the number of months the individual was an eligible individual in the year.

  • HSA holders can choose to save up to $3,550 for an individual and $7,100 for a family (HSAholders 55 and older get to save an extra $1,000 – and these contributions are 100% taxdeductible from gross income.
  • Minimum annual deductibles are $1,350 for self-only coverage or $2,700 for family coverage.
  • Annual out-of-pocket expenses (deductibles, co-payments and other amounts, but notpremiums) cannot exceed $6,750 for self-only coverage and $13,500 for family coverage.

 

Minimum Deductible Maximum Out of Pocket Contribution Limit 55+ Contribution
Single $1,400 $6,900 $3,600 $1,000
Family $2,800 $13,800 $7,200 $1,000

 

* Catch-up contributions are allowed for those greater than 55 years of age ($1,000 in 2020).Catch-up contributions can be made at any time during the year in which the HSA participantturns 55.

For more detailed information on HSAs and taxes, visit the U.S. Department of Treasury website at www.ustreas.gov or talk with your tax advisor.