Health Savings Account limits for 2021

Participants in high-deductible health plans (HDHP) can contribute to tax-advantaged Health Savings Accounts.
"For 2021, the annual limit on deductible contributions is $3,600 for individuals with self-only coverage under an HDHP (a $50 increase from 2020) and $7,200 for family coverage (a $100 increase from 2020)."
"For 2021, the lower limit on the annual deductible for an HDHP is $1,400 for self-only coverage and $2,800 for family coverage, both unchanged from 2020. The upper limit for out-of-pocket expenses is $7,000 for self-only coverage and $14,000 for family coverage, both increased from 2020."

For more info on the tax advantages of HSAs search this blog for "health savings accounts."
Source:

HSA contribution limits increase for 2021

By Sally P. Schreiber, J.D.
Journal of Accountancy 

May 20, 2020

https://www.journalofaccountancy.com/news/2020/may/hsa-contribution-limits-2021.html?utm_source=mnl:cpald&utm_medium=email&utm_campaign=21May2020

Health Savings Account Contribution Limits for 2019

The IRS has released contribution limits for health savings accounts for 2019. The individual limit will be $3,500, a $50 increase over 2018, while the family limit will increase $100 to $7,000.
"A type of savings account that lets you set aside money on a pre-tax basis to pay for qualified medical expenses. By using untaxed dollars in a Health Savings Account (HSA) to pay for deductibles, copayments, coinsurance, and some other expenses, you can lower your overall health care costs."
"An HSA can be used only if you have a High Deductible Health Plan (HDHP) — generally any health plan (including a Marketplace plan) with a deductible of at least $1,350 for an individual or $2,700 for a family. When you view plans in the Marketplace, you can see if they’re "HSA-eligible."
For 2018, you can contribute up to $3,450 for self-only HDHP coverage and up to $6,900 for family HDHP coverage. HSA funds roll over year to year if you don't spend them. An HSA may earn interest, which is not taxable."
"Some health insurance companies offer HSAs for their high deductible plans. Check with your company. You can also open an HSA through some banks and other financial institutions."
https://www.healthcare.gov/glossary/health-savings-account-HSA/

Health Savings Accounts offer a triple tax advantage

If you have a high deductible medical insurance you can contribute to a triple tax free HSA.
1. no federal income tax owed on contributions.
2. balance grows tax-free
3. withdrawals for qualified medical expenses are tax-free
Fidelity offers an excellent summary of the benefits of Health Savings Accounts (HSAs) at https://www.fidelity.com/viewpoints/personal-finance/hsa-healthy-habits
"HSAs offer a number of benefits: not only spending for the short term, but also saving for longer-term qualified medical expenses, including those in retirement." Enjoy a triple tax advantage!
Also: How your health savings account can be a powerful retirement tool:
https://www.fidelity.com/insights/retirement/hsas-in-retirement-infographic
How to get the most out of your HSA: https://www.fidelity.com/insights/personal-finance/getting-your-hsa-in-shape-infographic
Your investment choices include mutual funds, self-directed brokerage accounts, CDs, and savings accounts. Employer-sponsored HSAs may limit your investment/savings choices but individuals buying an HSA on their own can choose from a wide variety of providers. To find an HSA check: https://www.hsasearch.com/
If you have an HSA with your current employer but are leaving that job, or if you are retired, you can move your HSA funds to another provider.  

Health Savings Accounts provide a triple tax advantage

"Most people don't think of health savings accounts, aka HSAs, as retirement savings accounts. However, an HSA can actually be a better retirement savings account then any IRA or 401(k). That's because HSAs are the only accounts that enjoy a triple tax advantage: Contributions to an HSA are tax-deductible, the money inside the account is exempt from capital-gains and dividend taxes, and the distributions you take from the account are also tax-free if you spend the money on qualified medical expenses. What's more, once you hit age 65, you can spend your HSA money on anything -- not just healthcare -- without incurring a tax penalty (though you'll pay income tax on the withdrawal).

That's why it's such good news that the contribution limits for HSAs are going up in 2018. The new limits are $3,450 per year for self-only HSAs and $6,900 for family coverage HSAs." Thanks to The Motley Fool: https://www.fool.com/retirement/2018/01/11/5-changes-to-retirement-savings-for-2018.aspx