Hsa Contribution Limits 2024 Tax Deductions. Deposits paid directly to your health savings account (hsa) can result in an hsa tax deduction. Lastly, the irs also increased health savings account (hsa) annual contribution limits.
Starting in 2024, the hsa contribution limit for an individual will increase to $4,150, up from the previous limit of $3,850 in 2023. If your contributions exceed annual limits, they must be removed from the account before the tax deadline (april 15, 2024) or you could incur a 6% penalty on the excess.