An HSA is a triple-tax-advantaged account that lets you save for medical expenses tax-free. Unlike most accounts, the savings are yours forever.
2026 HSA Contribution Limits
- Individual: $4,300/year
- Family: $8,550/year
- Catch-up (55+): Additional $1,000/year
Who Qualifies?
You must be enrolled in a qualifying High-Deductible Health Plan (HDHP):
- Minimum deductible: $1,650 individual / $3,300 family (2026)
- Maximum OOP: $8,300 individual / $16,600 family
- Cannot be enrolled in Medicare
- Cannot be claimed as a dependent
- Cannot have other non-HDHP coverage
The Triple Tax Advantage
- Contributions are deductible — reduces your taxable income
- Growth is tax-free — investments compound without tax
- Withdrawals are tax-free — when used for qualified medical expenses
HSA-Eligible Expenses
- Doctor visits, copays, deductibles
- Prescriptions and OTC medications
- Vision (glasses, contacts, exams, LASIK)
- Dental (cleanings, fillings, orthodontics)
- Mental health therapy
- Medical equipment
- Long-term care insurance premiums (with limits)
HSA as a Stealth Retirement Account
After age 65, you can withdraw HSA money for any purpose (paying normal income tax — like a traditional IRA). That makes it functionally a better Roth IRA: tax-free in, tax-free growth, AND no income limits to contribute.
Top HSA Providers
- Fidelity — no fees, robust investing
- Lively — modern app, no fees
- HealthEquity — most common employer-sponsored
- Optum Bank — large, established
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