The IRS has announced an inflation adjustment increase to the maximum HSA contribution for 2021, and there will be in increase over the max HSA contribution for 2020. More specifically, both the individual and family contribution maximums will increase from 2020 to 2021, which is great news for savers. Why should you care? The Value of HSA Accounts Has Increased Recently With recent legislation, the value of having an HSA account has increased. The Coronavirus Aid, Relief, and Economic Security (CARES) Act, passed by Congress, made it possible to use HSA, FSA, and HRA funds for OTC...
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[Read the rest of the story at 20somethingfinance.com]