How Much Can a Married Couple Contribute to an HSA in 2018?

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2018 IRS HSA contribution limits

Health Savings Accounts (HSAs) are a great way for individuals and families to save money for medical expenses. For married couples looking to contribute to an HSA in 2018, the maximum contribution limits depend on various factors.

For the year 2018, the IRS set the following contribution limits:

• For self-only coverage: $3,450
• For family coverage: $6,900

Married couples total contribution examples

However, it's important to note that these limits apply to each individual, so if both spouses are eligible to contribute to an HSA, they can each max out their contributions, effectively doubling the total amount.

Here's a breakdown of how much a married couple can contribute to an HSA in 2018:

• If both spouses have self-only coverage: $3,450 x 2 = $6,900
• If both spouses have family coverage: $6,900 x 2 = $13,800

Catch-up contributions and next steps

Additionally, individuals who are 55 or older can make an extra catch-up contribution of $1,000 per year.

It's essential to consult with a financial advisor or tax professional to ensure you are meeting all the eligibility criteria and contribution limits for HSAs.

When it comes to maximizing your Health Savings Account (HSA), understanding the contribution limits for married couples in 2018 can really make a difference. Not only can each spouse contribute separately, but knowing the total limits allows for better financial planning.