What is the maximum contribution to a Health Savings Account (HSA) for an individual under age 55 in 2016?

The maximum contribution to a Health Savings Account (HSA) for an individual under age 55 in 2016 is indeed $3,350. This amount reflects the contribution limits set by the IRS for that tax year, which are adjusted annually based on inflation and other factors.

For individuals, the set limit for 2016 specifically aimed to encourage saving for health-related expenses while ensuring that HSAs remain an appealing option for many taxpayers. Individuals who are 55 or older can contribute an additional catch-up amount, which explains why the limit differs based on age.

The other amounts listed do not accurately represent the HSA contribution limits for that year, as they exceed the established maximum contribution for individuals in that scenario. Understanding these limits is crucial for making informed decisions regarding healthcare financing through HSAs and helps ensure compliance with federal regulations.