Q&A of the Week March 8, 2023

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Question:

What was the max contribution to an HSA for 2022?

Answer:

To be eligible for a Health Savings Account (HSA), you must be enrolled in a high-deductible health plan. 

The maximum contribution to an HSA increased for 2022. The max for an individual was $3,650 and the max for a family was $7,300.

If you are over age 55, you can do a catch-up contribution of up to $1,000.