More people will have high-deductible health insurance policies this year, either on their own or through their employers, but they may not know whether they’re eligible to benefit from a health savings account. If your policy has a deductible of at least $1,250 for individual coverage or $2,500 for family coverage, plus meets a few other requirements, then you can make tax-deductible contributions (or pre-tax contributions if they’re through your employer) to an HSA in 2014. You can stash up to $3,300 in an HSA if you have individual coverage or up to $6,550 for family coverage, plus an extra $1,000 if you’re 55 or older sometime this year. You can then use the money tax-free for medical expenses in any year. And if you had an HSA-eligible policy in 2013, you still have until April 15, 2014, to make your contribution for last year.
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