The 2020 contribution limits approved by the IRS are
family, $7,100 and
catch-up (age 55+) is $1,000.
Medical, Dental and Vision
HSA contributions for 2019 up to your annual limit may be made through April 15, 2020. Contribution limits for 2019 are $3500 for single coverage, or $7,000 for family coverage. Individuals 55+ may also make a “catch-up” contribution of up to $1,000.
You can only contribute to an HSA account if you have a compatible HSA health insurance plan. There are many advantages. Obviously, your tax deduction is usually the primary reason that people opt for this. You may choose your own insurance network or out of network doctor. You visit the practitioner or get the care you need. Co-pay is not required in most situations. You show your insurance ID card. You’ll receive an explanation of coverage via mail from your insurance company. You will receive a bill from the service provider for the portion not covered by insurance. You’ll pay the fees owed, tax free. Out of pocket and reimburse yourself in the future, so save the receipts for your tax purposes and the HSA funds by debit card or check to pay the provider.
You present your prescription and insurance card to the pharmacy. You will be charged a discounted rate after your coverage is confirmed. And you pay with your debit or check on your HAS account.
I encourage you to keep any and all electronic contributions and payments each calendar year in your tax file if ever needed.