Here are the 2024 contribution limits for health savings accounts
The annual contribution limit for health savings accounts, or HSAs, will soon get a sizable boost due to inflation, the IRS announced this week.
For 2024, the yearly limit for self-only HSA plans is rising to $4,150 from $3,850 in 2023, and the cap for family plans is jumping to $8,300 from $7,750. The catch-up contribution for savers age 55 and older remains at $1,000 each, bumping the total deposit limit for older savers to $10,300.
It's a "significant increase" when compared to historic HSA inflation adjustments, according to Ashton Lawrence, a certified financial planner and director at Mariner Wealth Advisors in Greenville, South Carolina.
Source: CNBC
