Frequently Asked Questions

An HSA, or Health Savings Account, is a tax-advantaged savings account that can be used to pay for qualified medical expenses. It is available to individuals who are enrolled in a high-deductible health plan (HDHP).

The contribution limit for HSAs in 2021 is $3,600 for individuals and $7,200 for families. Individuals age 55 or older may contribute an additional $1,000 as a catch-up contribution.

Qualified medical expenses that can be paid for with HSA funds include deductibles, copayments, prescriptions, and certain medical procedures and services. For a complete list of qualified expenses, please refer to IRS Publication 502.