How much can you put in an HSA individual vs family?
Asked by: Alessia Schultz | Last update: January 25, 2026Score: 4.1/5 (41 votes)
Is the HSA limit per person or per family?
The contribution limit is divided between the spouses by agreement. If there is no agreement, the contribution limit is split equally between the spouses. Any additional contribution for age 55 or over must be made by each spouse to his or her own HSA.
What is the difference between HSA individual and family?
Each HSA is owned by one person. But family coverage under a qualifying HDHP allows you to use your HSA to pay for qualifying medical expenses for yourself and your family. The type of health plan (individual or family) you're enrolled in decides how much you can contribute to your HSA account in one calendar year.
How much can a husband and wife contribute to an HSA?
HSA Contribution Reminders
Married couples with HSA-eligible family coverage will share one family HSA contribution limit of $8,300 in 2024 and $8,550 in 2025. If both spouses have eligible self-only coverage, each spouse may contribute up to $4,150 in 2024 and up to $4,300 in 2025 in separate accounts.
Is there a limit on how much you can put in an HSA account?
2024 HSA contribution limits:
An individual with coverage under a qualifying high-deductible health plan (deductible not less than $1,600) can contribute up to $4,150 — up $300 from 2023 — for the year. The maximum out-of-pocket is capped at $8,050.
The Real TRUTH About An HSA - Health Savings Account Insane Benefits
What is the downside of an HSA?
Drawbacks of HSAs include tax penalties for nonmedical expenses before age 65, and contributions made to the HSA within six months of applying for Social Security benefits may be subject to penalties. HSAs have fewer limitations and more tax advantages than flexible spending accounts (FSAs).
How much money can I put in my HSA account?
HSA contribution limits for 2024-2025
The maximum contribution for self-only coverage is $4,300 ($4,150 in 2024). The maximum contribution for family coverage is $8,550 ($8,300 in 2024). Those age 55 and older can make an additional $1,000 catch-up contribution.
Can you have separate HSA and family coverage?
A person with individual HDHP coverage can contribute up to $4,300 in 2025 to their HSA, and a person with family HDHP coverage can contribute up to $8,550. But they also have the option for each spouse to establish their own HSA, and split up the family maximum contribution how they prefer.
What is the 12 month rule for HSA?
It means you must remain eligible for the HSA until December 31 of the following year. The only exceptions are death or disability. If you violate the testing period requirement, your ineligible contributions become taxable income.
Can I use my HSA to pay for my girlfriend?
The only time you can use your HSA to pay for the healthcare costs of a friend is if you have named that person as a dependent on your most recent tax return (provided that they qualify under the non-relative qualifications — detailed below).
Can both spouses contribute an extra $1000 to HSA?
Married couples who both are over age 55 may each make an additional $1,000 contribution to their separate HSAs. Federal tax law imposes strict limits on how much can be contributed to a health savings account (HSA) each year.
Can I change my HSA from individual to family?
Changes in status, such as marriage or a birth of a child, could change your coverage from individual to family or, in the cases of divorce or death of a spouse, from family to individual.
Can I cash out my HSA when I leave my job?
Yes, you can cash out your HSA at any time. However, any funds withdrawn for costs other than qualified medical expenses will result in the IRS imposing a 20% tax penalty. If you leave your job, you don't have to cash out your HSA.
What is the difference between individual and family HSA?
Additionally, whether you have a single or family plan affects the limits for HSAs. For 2024, the self-only maximum contribution limit is $4,150, and the family contribution limit is $8,300.
Can I use my HSA to pay for my spouse?
Can I use my HSA to pay for my spouse, domestic partner, or children's medical expenses? Yes, as long as you use the funds to pay for qualified medical expenses, you can pay for any family member who is a tax dependent on your tax return.
What disqualifies you from contributing to an HSA?
If you can receive benefits before that deductible is met, you aren't an eligible individual. Other employee health plans. An employee covered by an HDHP and a health FSA or an HRA that pays or reimburses qualified medical expenses can't generally make contributions to an HSA. FSAs and HRAs are discussed later.
When should I stop putting money in my HSA?
If you don't use it for qualified medical expenses, it counts as income when you file your taxes. Six months before you retire or get Medicare benefits, you must stop contributing to your HSA. But, you can use money left in your HSA to help pay for qualified medical expenses that Medicare doesn't cover.
Can HSA be used for dental?
Yes, you can use a health savings account (HSA) or flexible spending account (FSA) for dental expenses.
Can I max out my HSA in one month?
If you are enrolled in an HSA-eligible health plan as of December 1 of a given year, you can contribute the maximum amount you're eligible for, per the IRS's "last-month rule." This is true whether you've been enrolled in an HSA-eligible health plan for 1 day or 185 days.
Should you max out your HSA?
If you're able, consider contributing the annual maximum amount. The more you can contribute, the more you can benefit from the HSA's potential tax advantages.
Is HSA worth it for family?
The main benefits of a high-deductible medical plan with an HSA are tax savings, the ability to cover some expenses that your insurance doesn't, the ability to have others contribute to your account, and the convenience of using the account to pay for healthcare expenses.
Can I use my HSA for my wife's pregnancy?
You may only use your HSA to pay for qualified medical expenses for yourself, spouse, children or other dependents. Using your HSA to pay qualified medical expenses for your spouse does not affect your annual contribution limit.
What happens if I put too much money in my HSA?
Contributing more to your health savings account (HSA) than the IRS limit for the tax year creates excess contributions. All excess contributions are subject to income tax and a 6% excise tax each year until corrected.
How does IRS know what you spend HSA on?
Verification of expenses is not required for HSAs. However, total withdrawals from your HSA are reported to the IRS on Form 1099-SA. You are responsible for reporting qualified and non-qualified withdrawals when completing your taxes.
How much can a family contribute to HSA in 2024?
The IRS announced the HSA contribution limits for 2024. Individuals can contribute up to $4,150 to their HSA accounts for 2024, and families can contribute up to $8,300.