The IRS has raised HSA (Health Savings Account) contribution limits for next year. In 2021 members will be able to contribute $3,600 to an individual coverage HSA and $7,200 to a family coverage HSA. See how this compares to 2020 limits below:
An HSA is a tax-free medical savings account that is available to subscribers enrolled in a high-deductible health insurance plan (HDHP). Members use HSA funds to help cover healthcare costs and offset their deductible. HSAs can be offered through employers or from other vendors. HSA balances roll over from year to year, allowing subscribers to use their funds in the future.