Each year the Federal government reviews the HSA contribution limits. The maximum permitted contribution to the HSA on behalf of an individual with single coverage is $3,250. For an individual with family coverage, the maximum is $6,450. Individuals who attain age 55 before the close of 2013 are eligible to make an additional contribution of $1,000. If you already have an HSA but are not contributing the annual maximum, you can increase your contribution up to the annual maximum at any time. If you are enrolled in a qualified High Deductible Health Plan eligible for an HSA, you should consider setting up an account to take advantage of the tax savings.
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