How Much Can a Couple Contribute to an HSA if You are Over 55 in 2018?

Health Savings Accounts (HSAs) are a great way for individuals and families to save money for medical expenses while enjoying tax benefits. For those over 55 years old in 2018, there are special provisions that allow for additional contributions to an HSA.

Here is an overview of how much a couple can contribute to an HSA if they are over 55 in 2018:

• In 2018, individuals aged 55 and older can make an additional catch-up contribution of $1,000 to their HSA.
• For a married couple, if both spouses are 55 or older and each has their own HSA, they can each make the additional catch-up contribution of $1,000.
• Therefore, a married couple both over 55 years old can contribute a total of $8,900 to their HSAs in 2018 ($6,900 for the regular contribution limit and $1,000 each for the catch-up contribution).

It's important to note that the contribution limits may vary each year, so it's essential to stay updated on the current limits and rules regarding HSAs.

Health Savings Accounts (HSAs) offer an excellent opportunity for couples over 55 to save for medical expenses while maximizing tax benefits. In 2018, these individuals can take advantage of special contribution rules that allow them to contribute more than the standard limit.