An easier way to manage the cost of healthcare and gain peace of mind.
HSA Benefits
- Earns interest
- Features tax-deductible contributions
- You keep your contributions if you change jobs or retire
- No minimum balance requirements
- No monthly service charges with eStatements (Otherwise, $3.00/month)
- Free Mastercard® debit card
- Open quickly and easily online!
HSA contribution limits
Every year, the Internal Revenue Service (IRS) sets the maximum that can be contributed to an HSA. For example, if your HSA contribution limit for the year is $3,850 (as it is in 2023) and your employer contributes $1,000, you can only contribute $2,850—unless you're eligible for a catch-up contribution of $1,000.
HSA eligibility
To contribute to an HSA, you must be enrolled in an HSA-eligible health plan. For 2024, this means:
• It has an annual deductible of at least $1,500 for self-only coverage and $3,000 for family coverage
• Its out-of-pocket maximum does not exceed $7,500 for self-only coverage and $15,000 for family coverage
And to contribute to an HSA you must:
• Not be enrolled in a health plan that is not an HSA-eligible plan, such as a full purpose health care flexible spending account (FSA)
• Not be enrolled in Medicare
• Not claimed as a dependent on someone else's tax return
• HSA contribution deadline
• You generally have until the tax filing deadline to contribute to an HSA. For tax year 2023, you can make contributions up until April 15, 2024.
2023 HSA contribution limits
The HSA contribution limits for 2023 are $3,850 for self-only coverage and $7,750 for family coverage. Those 55 and older can contribute an additional $1,000 as a catch-up contribution.
2024 HSA contribution limits
The HSA contribution limits for 2024 are $4,150 for self-only coverage and $8,300 for family coverage. Those 55 and older can contribute an additional $1,000 as a catch-up contribution.2025 HSA contribution limits
The HSA contribution limits for 2024 are $4,300 for self-only coverage and $8,550 for family coverage. Those 55 and older can contribute an additional $1,000 as a catch-up contribution.
Business Owners
Are you looking to save money and establish a High Deductible Health Plan for your employees? If so, a Starion HSA may be just the answer for them! Give your employees an easier way to manage the cost of healthcare by talking with your business banker today.
Questions? Call 888-258-6050. We're here to help!
