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The irs announced higher hsa limits for the 2021 tax year which means opportunity to save even more.
2021 hsa contribution limits. The internal revenue service announced new higher contribution limits for health savings accounts for 2021 today. The maximum contribution for an hsa for the 2021 calendar year has been announced by the internal revenue service in may 2020. The maximum contribution an individual can make to a health savings account is 3 600 for self only coverage and 7 200 for family coverage.
An individual with coverage under a qualifying high deductible health plan deductible not less than 1 400 can contribute up to 3 600 up 50 from 2020 for the year to their hsa. The 2021 annual hsa contribution limit is 3 600 for individuals with self only hdhp coverage up from 3 550 in 2020 and 7 200 for individuals with family hdhp coverage up from 7 100 in 2020. Because of covid 19 the irs extended the tax filing deadline to july 15 2020.
The maximum out of pocket has been capped at 7 000. 2021 maximum hsa contributions. Contributions to a health savings account have its limits.
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