Health Savings Accounts (HSAs) were created in 2003 so that individuals covered by high-deductible health plans could receive tax-preferred treatment of money saved for medical expenses. Generally, an adult who is covered by a high-deductible health plan (and has no other first-dollar coverage) may establish an HSA.
Source: U.S. Treasury
2018 Limits
- Individual: $3,450
- Family: $6,900
- Individual 55 and over with catch-up contribution: $4,400 ($3,400 + $1,000 catch-up maximum)
- Family 55 and over with catch-up contribution: $7,750 ($6,750 + $1,000 catch-up maximum)
2017 Limits
- Individual: $3,400
- Family: $6,750
- Individual 55 and over with catch-up contribution: $4,400 ($3,400 + $1,000 catch-up maximum)
- Family 55 and over with catch-up contribution: $7,750 ($6,750 + $1,000 catch-up maximum)
2016 Limits
- Individual: $3,350
- Family: $6,750
- Individual 55 and over with catch-up contribution: $4,350 ($3,350 + $1,000 catch-up maximum)
- Family 55 and over with catch-up contribution: $7,750 ($6,750 + $1,000 catch-up maximum)