Answer:
The maximum additional contribution that may be made to a Health Savings Account (HSA) because of age is determined by the Internal Revenue Service (IRS). For tax year 2021, if you are age 55 or older, you can make an additional catch-up contribution of $1,000 to your HSA. This is in addition to the regular contribution limit for HSAs, which is $3,600 for individual coverage and $7,200 for family coverage.
To be eligible to contribute to an HSA, you must be enrolled in a high deductible health plan (HDHP) and not be covered by any other health plan that is not an HDHP, with certain exceptions. Additionally, you cannot be enrolled in Medicare and you cannot be claimed as a dependent on someone else's tax return.
It's important to note that these contribution limits may change from year to year. It's a good idea to check with the IRS or your financial professional to get the most up-to-date information on HSA contribution limits.
Step-by-step explanation: