HSA Contribution Limits
Make the most of your health savings account (HSA)
Take advantage of all of your HSA's tax benefits by contributing the maximum each year. Get income tax-free contributions and income tax-free withdrawals for qualified medical expenses. Plus, your money grows income tax-free. Sign into you account today and check your HSA balance.
Annual contribution limits
2021 is here. Start the new year off right by contributing up to the maximum contribution limit in 2021.
2021 HSA contribution limits:
$3,600 for individual coverage
$7,200 for family coverage
2020 HSA contribution limits:
$3,550 for individual coverage
$7,100 for family coverage
If you have not yet contributed the 2020 maximum contribution limit to your HSA, you still have time.
You have until the tax filing deadline (typically April 15) to make contributions to your HSA for the previous year. This means that for the 2020 tax season, you can contribute up to the annual maximum contribution limit until April 15, 2021.
Don't forget: Eligible individuals, 55 or older, can contribute an additional catch-up contribution of $1,000 per year. If your spouse is also 55 or older, he or she may establish a separate HSA and make a “catch-up” contribution to that account.
Sign in to your account today and check your contribution limit.
Build your HSA balance by transferring or rolling over funds from an IRA or another HSA.*
Request an IRA distribution
You can make a one-time contribution from a traditional IRA or Roth IRA into your HSA. Contact your IRA administrator to request a distribution. Keep in mind that the amount of the contribution cannot be more than you are eligible to contribute to your HSA for the tax year. If your employer contributes to your HSA, make sure to take that into account.
Transfer funds from another HSA
If you have an HSA from another bank that you want to close, you can transfer the funds to your Optum Bank HSA. To do so, download, fill out and send the HSA Rollover/Transfer Request Form to the previous administrator. This and other account forms are available after you sign in to your account.
Rollover funds from another HSA
If you want to move funds from an existing HSA to your Optum Bank HSA, you can request a distribution from your current administrator and send us a check with the HSA Rollover/Transfer Request Form. This and other account forms are available after you sign in to your account.
* Distributions, rollovers and transfers are subject to IRS restrictions. Please contact your tax advisor for information.