HSA Contribution Limits Barely Budge for 2017

The IRS recently announced the inflation-adjusted contribution limits for health savings accounts (HSAs) for 2017. HSAs combine high-deductible health insurance plans with a medical savings account. You make tax-deductible deposits into the savings account, and later withdraw the funds to pay unreimbursed medical expenses. The 2017 contribution limit for individuals is $3,400, up $50 from 2016. The limit for family coverage is $6,750, unchanged from 2016. If you’re age 55 or older, you can also make a catch-up contribution of an additional $1,000.