A Health Savings Account (HSA) is a smart, tax-advantaged way to save for healthcare expenses. Now and in the future. If you’re enrolled in an HSA-eligible health plan, your HSA can help you take more control of your health and your finances.
What is an HSA?
An HSA is a savings account you own. It allows you to set aside pre-tax dollars to pay for qualified medical expenses for yourself and your eligible dependents.
To contribute to an HSA, you must be enrolled in a High-Deductible Health Plan (HDHP). If you’re not enrolled in a qualifying plan, you won’t be eligible to contribute.
Why HSAs Continue to Grow
HSAs are more popular than ever, and for good reason. They offer:
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Tax advantages: Save with pre-tax or tax-deductible contributions, tax-free growth and tax-free withdrawals for qualified medical expenses.
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Flexibility: Use funds now or save them for future healthcare needs.
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Control: Decide when to spend, save or invest your HSA funds.
2027 HSA Contribution Limits
Each year, the IRS adjusts HSA contribution limits for inflation. For 2027, limits have increased, giving you more opportunity to save.
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Self-only coverage: $4,500
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Family coverage: $9,000
These increases allow you to set aside more tax-advantaged dollars for current and future healthcare needs.
2027 HDHP Requirements
To contribute to an HSA, your health plan must meet certain HDHP requirements. These limits have also increased slightly for 2027.
Minimum Deductibles
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Self-only: $1,750
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Family: $3,500
Maximum Out-of-Pocket Limits
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Self-only: $8,700
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Family: $17,400
Quick Comparison: 2026 vs. 2027
| 2026 | 2027 | |
|---|---|---|
| HSA Contribution Limits | Self-only: $4,400 | Self-only: $4,500 |
| Family: $8,750 | Family: $9,000 | |
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| HDHP (Self-only coverage) | Min. deductible: $1,700 | Min. deductible: $1,750 |
| Max out-of-pocket: $8,500 | Max out-of-pocket: $8,700 | |
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| HDHP (Family coverage) | Min. deductible: $3,400 | Min. deductible: $3,500 |
| Max out-of-pocket: $17,000 | Max out-of-pocket: $17,400 | |
Catch-Up Contributions (Age 55+)
If you’re age 55 or older, you can contribute an additional $1,000 each year.
That means in 2027 you can contribute up to:
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$5,500 (self-only)
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$10,000 (family)
This is a valuable way to boost savings as you prepare for retirement and future healthcare costs.
Flexibility You Can Use
One of the biggest advantages of an HSA is flexibility.
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You can change your contribution amount at any time during the year
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Adjust contributions as your income, expenses, or goals change
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Use funds now, or let them grow for later
Make the Most of Your HSA
With higher contribution limits in 2027, now is a great time to review your savings strategy. Even small increases to your contributions can make a big impact over time, especially with the triple-tax advantage working in your favor.
Whether you’re planning for upcoming expenses or building a long-term healthcare cushion, your HSA is one of the most powerful tools available.
We’re Here to Help
First American Bank Health Account Services is here to support you every step of the way.
If you have questions or want to learn more, call us at (866) 449-1150, Monday - Friday from 7:00 a.m. - 7:00 p.m. CT (excluding holidays).
