The big changes coming to HSAs in 2024

We're about to see the 'largest ever increase' to annual health savings accounts contributions

An image of a piggy bank next to a medical stethascope
HSA contribution limits will increase significantly in 2024
(Image credit: Nudphon Phuengsuwan / Getty Images)

Health savings accounts, or HSAs, are already a great way to set aside money for medical costs, and they're about to get even better. The IRS recently announced that for 2024 it is making what The Wall Street Journal described as "the largest ever increase to the amount Americans can set aside in health savings accounts each year."

How are HSAs going to change in 2024?

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Becca Stanek, The Week US

Becca Stanek has worked as an editor and writer in the personal finance space since 2017. She previously served as a deputy editor and later a managing editor overseeing investing and savings content at LendingTree and as an editor at the financial startup SmartAsset, where she focused on retirement- and financial-adviser-related content. Before that, Becca was a staff writer at The Week, primarily contributing to Speed Reads.