What are the 2024 HSA contribution limits?

Self-only HDHP coverage: $4,150. Family HDHP coverage: $8,300. Age 55+ catch-up: additional $1,000 per eligible person. Both spouses can make catch-up contributions if each is 55+ and has separate HSAs.

What is the triple tax advantage of an HSA?

Contributions are pre-tax (reduces taxable income); growth is tax-free; withdrawals for qualified medical expenses are tax-free. No other account has all three. After age 65, non-medical withdrawals are taxed as ordinary income but not penalized.

Can I invest my HSA balance?

Yes. Most HSA custodians allow investing once balance exceeds a threshold ($500–$1,000 minimum cash). HSAs can hold mutual funds, ETFs, and index funds. Long-term HSA investing is a powerful retirement healthcare strategy.

HSA Contribution and Tax Deduction Calculator

Calculate your 2024 HSA contribution limit and above-the-line deduction. Limits: $4,150 (individual HDHP) / $8,300 (family HDHP). Age 55+ catch-up: $1,000. Triple tax advantage.

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Annual Rate (%)

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Compounding / Year

$ Finance Disclaimer: These calculators are for educational and illustrative purposes only. Results do not constitute financial advice. Consult a licensed financial advisor before making investment or borrowing decisions.

How to Use

Enter the values for the scenario you are assessing. Calculate your 2024 HSA contribution limit and above-the-line deduction. Limits: $4,150 (individual HDHP) / $8,300 (family HDHP). Age 55+ catch-up: $1,000. Triple tax advantage. Use the hsa deduction result to inform your calculation.

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HSA Contribution and Tax Deduction Calculator

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Frequently Asked Questions

What are the 2024 HSA contribution limits?

What is the triple tax advantage of an HSA?

Can I invest my HSA balance?