For 2015, the annual HSA contribution limit for an individual with self-only coverage is $3,350. For those with family coverage, the 2015 contribution limit is $6,650. HSA policyholders age 55 and older can save an additional $1,000 to either the self-only or family coverage amounts, depending on their policy coverage. All HSA contributions are 100% tax deductible.
Individuals must qualify for an HSA by having a “high deductible health plan,” defined as a health plan with an annual deductible that is not less than $1,300 for self-only coverage or $2,600 for family coverage. Annual out-of-pocket expenses (deductibles, co-payments, and other amounts, but not premiums) cannot exceed $6,450 for self-only coverage or $12,900 for family coverage.