For single people, the limit will be $4,150 and families can put away up to $8,300. For those over 55 years of age, the catch-up contribution remains at $1,000.
This offers you the opportunity to set aside money on a pre-tax basis to pay for qualified healthcare expenses like deductibles, co-payments and more. Your HSA funds also earn interest, and you can roll over any unused money for qualified medical expenses down the road.
For guidance on how this strategy can impact your retirement plan, talk with a financial professional.