2025 Benefits Guide- updated 10-20 - Flipbook - Page 16
Health Savings Account Continued
Health Savings Account Limits - 2024
Employee
2-Person
Family
IRS Contribution Limit
$4,150
$8,300
$8,300
VELCO Contribution
$1,000
$2,000
$3,000
Maximum Employee Contribution
$3,150
$6,300
$5,300
$1,000
$1,000
HSA Catch up Contribution Limit (55+)
$1,000
IMPORTANT NOTE: If you exceed the annual contribution limit, the IRS imposes a tax penalty
on excess contributions. Additionally, you will be required to pay tax on the interest earned on
those excess funds. You are responsible for tracking your contributions to ensure you do not
exceed the maximum allowable contribution.
