Planning ahead? The IRS announced contribution limits for health savings accounts (HSAs) for 2027: $4,500 for self-only coverage and $9,000 for family coverage (those age 55 and older can contribute an additional $1,000). To make a contribution, the individual must be covered by a high-deductible health plan, which for 2027 means having a minimum annual deductible of $1,750 for self-only coverage and $3,500 for family coverage as well as a limit on annual out-of-pocket costs (deductibles, co-payments, and other amounts but not premiums) not exceeding $8,700 for self-only coverage and $17,400 for family coverage. HSAs are explained in IRS Publication 969. #IdeaoftheDay
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