The IRS has increased the health savings account contribution limits for 2025. Here’s how much you can deposit with a high-deductible health plan.
The IRS has increased the health savings account, or HSA, contribution limit for 2025 to $4,300 for self-only coverage, and $8,550 for family plans.There are three tax breaks for HSAs: an upfront deduction for contributions, tax-free growth and no levies on withdrawals for qualified medical expenses.The contribution limit will also increase for savers with family coverage. In 2025, those with family plans can deposit up to $8,550 into HSAs, which is up from $8,300 in 2024.
The IRS will release the 2025 catch-up contribution for savers age 55 and older later this year. It currently stands at $1,000 for 2024, unchanged from 2023.This is the best time for a Roth individual retirement account conversionGuns are being stolen from cars at triple the rate they were 10 years ago, report finds
HSAs offer three tax benefits. There's an upfront deduction for contributions, investments grow tax-free and there are no levies for withdrawals used for qualified medical expenses., meaning the vast majority forgo growth by leaving savings in cash, according to a 2023 survey from the Plan Sponsor Council of America.
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