If you qualify, you, your employer, and your friends and family can contribute funds to your HSA. The funds contributed to your HSA aren’t taxed, and making regular contributions will allow your HSA balance to grow over time.
If you decide to establish a health savings account, you must meet HSA eligibility requirements created by the IRS, including:
Important: If you already have an HSA but no longer meet the qualifications above, you can’t contribute funds. However, your HSA is yours to keep for as long as you like, and withdrawals for eligible expenses are always tax-free.
There are three ways to add money to your HSA.
Each year, the IRS sets a maximum contributions limit for HSAs. All count toward the maximum limit for the year.*
Tip: You can keep contributing for the current tax year until April 15 of the following year — up to the annual limit. This helps you maximize your HSA savings.
Individuals age 55 and older can add even more money to their HSAs with “catch-up contributions.” Currently, the IRS allows these individuals to make additional contributions up to $1,000 over the annual maximum. Learn more on our HSA Savings Examples page.
*Maximum contribution requires either full-year eligibility or initial eligibility as of December 1 of that year and continuation of eligibility throughout the following year.