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Instead, if you’re free to afford it, max out your contributions and invest them.
How Much Can You Contribute?
to make it contribute to an HSA, you must have a qualifying high-deductible health plan (HDHP).
For individuals, the deductible attached to your health plan must range from $1,600 to $8,050.
For families, the attached deductible can range from $3,200 to $16,100.
Do You Qualify To Make Contributions?
Guarnera explained, Many businesses are finding these health plans affordable for their companies and their employees.
Depending on your current situation, you may not be allowed to make contributions to an HSA.
An HR representative can often help you sort through the different benefits options available to you.
Simply making the choice to invest the funds puts you ahead of the curve.
But do your best to go beyond simply throwing your funds into a random investment.
Instead, intentionally choose to invest your HSA contributions into an asset that suits your investment goals.
Keep Saving Until Tax Day
The calendar year ends on Dec. 31.
But you’re able to continue making contributions to your HSA until tax day of the following year.
Youll have until April 15, 2025, to finalize your contributions.
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