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FAQ
What is the HSA catch-up contribution 2026?
The HSA catch-up contribution 2026 is an additional amount eligible individuals aged 55 and older can contribute to their Health Savings Account, beyond the standard annual limits.
Who is eligible for the HSA catch-up contribution?
You must be age 55 or older by the end of the tax year (December 31, 2026) and enrolled in an HSA-eligible high-deductible health plan. You cannot be enrolled in Medicare. Artikel terkait: Mastering Appliance Reset Sequence: Avoid Costly Glitches
How much is the HSA catch-up contribution for 2026?
The amount for 2026 is historically [DATA: $1,000], but it is subject to official IRS announcements. This amount is added to your standard HSA contribution limit.
Can both spouses make an HSA catch-up contribution?
Yes, if both spouses are 55 or older and meet all other eligibility criteria, each can make their own catch-up contribution to their separate Health Savings Accounts. Baca juga: Decode Appliance Error Codes: Prevent Costly Breakdowns
What are the benefits of making an HSA catch-up contribution?
Benefits include tax-deductible contributions, tax-free growth of funds, and tax-free withdrawals for qualified medical expenses. It significantly boosts savings for future healthcare costs, especially in retirement. Artikel terkait: Resolve Oven Error Codes: Quick Fixes & Troubleshooting Guide
When is the deadline to make an HSA catch-up contribution for 2026?
Contributions for the 2026 tax year can generally be made up until the tax filing deadline for that year, typically April 15, 2027, without extensions.
What happens if I over-contribute to my HSA?
Over-contributing can lead to tax penalties. If you realize you’ve over-contributed, you should withdraw the excess amount before the tax deadline to avoid these penalties.
