Starting in 2004, Americans with a High Deductible Health Plan are able to contribute to a Health Savings Account (HSA.)
An HSA is triple-tax-advantaged – contributions are tax-deductible, growth is tax-deferred, and withdrawals for medical expenses are tax-free. (There are also some potential FAFSA advantages.)
For 2021, the HSA contribution limit is $3,600 for an individual and $7,200 for a family, with a $1,000 age 55+ catch-up contribution (not age 50+ like for IRAs.) These numbers are $50, $100, and $0 increases over 2020, respectively. Contribution limits are increased each year with inflation.
What is the HSA contribution limit?
| Year | Contribution Limit | ||
|---|---|---|---|
| Single | Family | Catch up | |
| 2021 | $3,600 | $7,200 | $1,000 |
| 2020 | $3,550 | $7,100 | $1,000 |
| 2019 | $3,500 | $7,000 | $1,000 |
| 2018 | $3,450 | $6,900 | $1,000 |
| 2017 | $3,400 | $6,750 | $1,000 |
| 2016 | $3,350 | $6,750 | $1,000 |
| 2015 | $3,350 | $6,650 | $1,000 |
| 2014 | $3,300 | $6,550 | $1,000 |
| 2013 | $3,250 | $6,450 | $1,000 |
| 2012 | $3,100 | $6,250 | $1,000 |
| 2011 | $3,050 | $6,150 | $1,000 |
| 2010 | $3,050 | $6,150 | $1,000 |
| 2009 | $3,000 | $5,950 | $1,000 |
| 2008 | $2,900 | $5,800 | $900 |
| 2007 | $2,850 | $5,650 | $800 |
| 2006 | $2,700 | $5,450 | $700 |
| 2005 | $2,650 | $5,250 | $600 |
| 2004 | $2,600 | $5,150 | $500 |
Data, source.
