橙子视频app
Annual contribution limits
There are so many qualified medical expenses that your HSA can help you cover. In addition to deductibles and copays, you can use your funds to pay for dental, vision, chiropractic care, acupuncture and more.??
Get income tax-free contributions and income tax-free withdrawals for qualified medical expenses. Plus, your money grows income tax-free.?
You are responsible for monitoring the amount deposited into your HSA each calendar year. Keep in mind that if your employer contributes funds, those also count toward the maximum. If you exceed the maximum contribution limit, there is a penalty imposed by the IRS.??
Sign in to your account online to download the?Health Savings Account (HSA) Excess Contribution Removal Form? to request an excess contribution refund or a correction to a contribution.?
2025 HSA contribution limits:
- An individual with coverage under a qualifying high-deductible health plan (deductible not less than $1,650) can contribute up to $4,300 — up $150 from 2024 — for the year. The maximum out-of-pocket is capped at $8,300.?
- An individual with family coverage under a qualifying high-deductible health plan (deductible not less than $3,300) can contribute up to $8,550 — up $250 from 2024 — for the year. The maximum out-of-pocket is capped at $16,600.?
2026 HSA contribution limits:
- An individual with coverage under a qualifying high-deductible health plan (deductible not less than $1,700) can contribute up to $4,400 — up $100 from 2025 — for the year. The maximum out-of-pocket is capped at $8,500.?
- An individual with family coverage under a qualifying high-deductible health plan (deductible not less than $3,400) can contribute up to $8,750 — up $200 from 2025 — for the year. The maximum out-of-pocket is capped at $17,000.
Catch-up contribution
Once you turn 55, you can contribute an additional $1,000 each year to your HSA, called a catch-up contribution. If you and your spouse are both over the age of 55, you can each contribute an additional $1,000.??
Your spouse will just need to open their own HSA for their additional portion. Sign in and make a catch-up contribution today.
Contribute to your HSA now and sail into retirement
Most retired Americans will need more money to pay for their health care needs than their insurance coverage will provide. Total projected lifetime healthcare costs for a healthy 65-year-old couple retiring in 2021 are expected to be $662,156.** Sign in to your online account today to make a contribution.
As you prepare for retirement, saving money income-tax free in your HSA can ease your mind. Keep in mind that you’ll always pay taxes when you withdraw funds from a 401(k). But if you use HSA funds for qualified medical expenses, it’s generally 100% income tax-free.?
It's important to max out your HSA now. Once you enroll in Medicare, you can no longer contribute to your HSA, but you can still use it.?It comes in handy because there are certain things traditional Medicare doesn't cover, such as hearing aids, vision and dental.
Did you know?
After turning 65, you can use your HSA funds for non-qualified expenses, like a boat or an exotic vacation. You’ll pay ordinary income tax on those funds, but the 20% tax penalty no longer applies.?
*Assuming 25% tax bracket and 5% state tax rate in a tax-exempt HSA state. Results and amounts will vary depending on your particular circumstances.
**HealthView Services. 2021 retirement health care costs data report
橙子视频app
Investments are not FDIC insured, are not bank issued or guaranteed by 橙子视频app Financial or its subsidiaries, including 橙子视频app Bank, and are subject to risk including fluctuations in value and the possible loss of the principal amount invested.