In recent years, Health Savings Accounts (HSAs) have proved a great way for individuals and families to cover the cost of medical expenses through a high deductible health plan arrangement. Due to their popularity, HSA enrollment has been expanding quickly, with an estimated 10 million Americans selecting this approach to coverage.
Similar to last year, pre-tax contributions to HSA plan are limited to $3,050 for a single individual and $6,150 for a family. If an individual is age 55 or older, an additional “catch-up” contribution of $1,000 is also permitted.
