HSA Limits Are Going Up in 2024. Here's What You Need to Know
Inflation has been wreaking havoc on consumers for roughly two years now. And while that's been a burden in many ways (think paying a premium for a carton of eggs), there have been a few silver linings.
One is that seniors on Social Security have seen their monthly benefits get a sizable raise due to inflation. Another is that the contribution limits for a number of popular savings plans have increased. IRA limits, for example, increased in 2023 from $6,000 to $6,500 for savers under age 50.
Inflation is also resulting in some big changes to health savings accounts, or HSAs. Come 2024, HSA participants will have the chance to set aside even more money for healthcare expenses in a tax-advantaged manner. And that's an opportunity worth jumping on.
Source Fool.com
