What Are The Maximum Contribution Limits For My HSA Account?
Due to the major tax benefits of an HSA, you can contribute only a limited amount to your account each year. The 2021 Contribution Limit for HSAs is $3,600 for an individual with self-only coverage, and $7,200 for family coverage. For those 55 and older, there is an additional “catch-up” contribution of $1,000.
IRS Maximum Contribution Limits for 2023:
These amounts are valid as long as you enroll in qualified HDHP coverage before the first day of December and maintain qualified HDHP coverage for the next 12 months. Otherwise, you may be eligible to contribute a prorated amount to your HSA account.
Starship automatically allows the $1,000 catch up contribution for account holders who’s age is 55 years and older.
Where Can I Find The Maximum Contributions?
The IRS determines these maximum contribution limits annually, so current year values can always be found online at the IRS's website.