The IRS announced inflation-adjusted limits for deductible contributions to health savings accounts (HSAs) for 2017.
For family coverage, the contribution limit will be $6,750, and for individual coverage, the limit will be $3,400.
If you’re age 55 or older, you can contribute an additional $1,000 during 2017.
HSAs combine high-deductible health insurance plans with pretax contributions to a healthcare savings account. The savings account funds can be withdrawn tax-free to pay unreimbursed medical expenses.
This is general information and should not be acted upon without first determining its application to your specific situation. Please contact your CPA or tax advisor for additional details.
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