How Much Can a Married Couple Put into an HSA for 2018?

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2018 HSA contribution limits for couples

Health Savings Accounts (HSAs) offer individuals and families a tax-advantaged way to save money for medical expenses. If you are part of a married couple, you may be wondering how much you can contribute to your HSA for the year 2018. The good news is that married couples have the option to contribute a certain amount together to their HSA account.

For 2018, the maximum contribution limits for an HSA are:

• $6,900 for family coverage
• $3,450 for individual coverage

Catch-up contributions for spouses over 55

However, it is important to note that if both spouses are over the age of 55, they can make catch-up contributions of an additional $1,000 each. This means that a married couple, both over the age of 55, could potentially contribute up to $8,900 to their HSA for the year 2018.

Tax benefits and medical expense use

Contributions to an HSA are tax-deductible, and the funds in the account can be used to pay for qualified medical expenses, such as doctor visits, prescriptions, and other healthcare costs. Any unused funds in the HSA rollover from year to year, making it a valuable tool for saving for future medical expenses.

It's essential to consult with a financial advisor or tax professional to understand the specific rules and regulations surrounding HSAs and to ensure that you are taking full advantage of this valuable savings opportunity.

Health Savings Accounts (HSAs) are a fantastic way for married couples to save for healthcare costs while benefiting from tax advantages. For the year 2018, if you’re planning for family coverage, keep in mind that the maximum contribution limit is $6,900. That’s a substantial amount to help manage your medical expenses.