Can I Contribute to an HSA in 2018? Everything You Need to Know

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HSA contribution eligibility criteria for 2018

Are you wondering if you can contribute to an HSA in 2018? The answer is yes, but there are certain eligibility criteria and contribution limits you need to be aware of. Let's dive into the details to help you make the most of your Health Savings Account this year.

To contribute to an HSA in 2018:

• You must be enrolled in a High Deductible Health Plan (HDHP)
• You cannot be claimed as a dependent on someone else's tax return
• You can contribute up to $3,450 for self-only coverage or $6,900 for family coverage

Tax benefits and how contributions work

Additional details to keep in mind:

• HSA contributions are tax-deductible
• Funds in your HSA can be used for qualified medical expenses tax-free
• HSA contributions roll over from year to year

Now that you know you can contribute to an HSA in 2018, make sure to take advantage of this valuable savings tool to cover your medical expenses while enjoying tax benefits.

Yes, you can absolutely contribute to an HSA in 2018, but make sure you meet some essential criteria. Being enrolled in a High Deductible Health Plan (HDHP) is key. Remember, the maximum you can set aside is $3,450 if you have self-only coverage and $6,900 for family coverage. Plus, did you know that contributions you make can lower your taxable income? It's a fantastic way to save money on your taxes while preparing for healthcare expenses!