The Internal Revenue Service has announced new, higher contribution limits for health savings accounts for 2021. The limits are $3,600 for individual coverage, up from $3,550 for 2020, or $7,200 for family coverage, up from $7,100 for 2020. While the increases are modest, they are an additional opportunity for you to prepare and pay for your health care needs. Annual contribution-limit increases allow HSAs to maintain their value and further grow their role as a key retirement-planning building block.
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