Health Savings Account

A high-deductible health plan provides lower premiums and higher deductibles than a traditional health plan. An HSA can help pay for expenses that aren't covered by certain high-deductible insurance policies. Before opening an HSA, consult your employer or insurance provider to confirm your HSA eligibility.

To qualify for an HSA in 2025, a high-deductible health plan must have a deductible of at least $1,650 for self-only coverage and $3,300 for family coverage. Under the plan, maximum out-of-pocket expenses shouldn't exceed $8,300 for self-only coverage and $16,600 for family coverage.

You can make contributions to your HSA each year.

The maximum annual contribution for 2025 is $4,300 for self-only coverage and $8,550 for family coverage. If you're 55 or older, or will be by the end of the calendar year, you may be eligible to make a catch-up contribution. The annual limit for catch-up contributions is $1,000.¹

You can add funds to your HSA once or throughout the year, up to the IRS contribution limit. You can also receive contributions from any other person, such as a family member or employer. Your contributions may be tax deductible.¹

Interest is compounded and credited to your account monthly.

If you designate a beneficiary, your HSA funds will be inherited by your designated beneficiary. You may designate both primary and contingent beneficiaries. Primary beneficiaries will be the first to receive your account assets in the event of your death. Contingent beneficiaries will receive your account assets if all of the primary beneficiaries precede you in death. If you do not have a designated beneficiary, the funds will be disbursed to your estate.