Find Your Optimal HSA Contribution

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An HSA is a tax-advantaged savings account that can only be used with a qualifying high-deductible health plan (HDHP).

The amount you already have in your health savings account the first month after you open it.

The estimated amount you'll pay each year from your HSA for qualified medical and healthcare costs.

Everyone’s retirement age is different. This age could be the year you start receiving Medicare benefits. For HSA specifics, this could be the year you begin withdrawing funds from your HSA after you turn 65.

The IRS sets limits each year for maximum contributions to HSAs and other tax-advantaged savings accounts. For 2023, HSA-eligible account holders are allowed to contribute $3,850 for individual coverage and $7,750 for family coverage. For 2022, HSA-eligible account holders are allowed to contribute $3,650 for individual coverage and $7,300 for family coverage.

The estimated amount you will save on Federal and State (if applicable) taxes by making contributions to your HSA.

Your health insurance must be classified as an HSA-eligible High Deductible Health Plan (HDHP). This insurance coverage type charges lower-than-normal premium payments, but the minimum HDHP deductible amount is high and changes annually.

In 2022, the minimum deductible is at least $1,400 for an individual and $2,800 for a family plan.

You can't contribute to an HSA once you start receiving Medicare Part A benefits.

Read more about HSA eligibility

A High-Deductible Health Plan (HDHP) is a health insurance plan traditionally defined by lower premiums and higher deductibles. For a health plan to be considered a qualifying, high-deductible health plan, or HSA-eligible, it must meet the IRS's annual minimum deductible and out-of-pocket maximum set annually. These two amounts are indexed annually for inflation.

The health insurance plan must also be designed so that the individual or family (two or more individuals) pay the cost of healthcare up to the deductible before any insurance kicks in (preventative care excluded from this definition).

Read more about HSA eligibility

The IRS sets limits each year for maximum contributions to an HSA. The maximum contribution limits for 2023 are $3,850 for individuals and $7,750 for families. The maximum contribution limits for 2022 are $3,650 for individuals and $7,300 for families. If you are 55 or older, you can contribute an additional $1,000 catch-up contribution. If your spouse is also 55 or older, they may also be able to contribute an additional $1,000 catch-up contribution into their own account.

Opening or transferring your HSA to Lively is easy and you won’t be surprised by hidden fees. You can sign up here.

If your employer offers an HSA as an employee benefit, you can open one through them. Since each HSA is owned by an individual, you can open an account through any provider, at any time. You don’t have to wait until open enrollment.

You can spend your HSA funds on qualified medical expenses for you, your spouse, or any dependents you claim on your tax return.

Your funds can be used to pay for thousands of qualified expenses approved by the IRS. You can use our searchable What’s Eligible tool to see what’s covered.