How Much Can I Contribute to HSA in 2018?

How Much Can I Contribute to HSA in 2018?

Health Savings Accounts (HSAs) are a great way to save for medical expenses while enjoying tax benefits. If you're considering opening or already have an HSA, you might be wondering how much you can contribute to it in 2018. The contribution limits for HSAs are set by the IRS and can vary depending on whether you have self-only or family coverage.

For the tax year 2018, the maximum HSA contribution limits are:

• Self-only coverage: $3,450
• Family coverage: $6,900

It's important to note that these limits include both your contributions and any contributions made by your employer. If you're 55 or older, you're also eligible to make an additional catch-up contribution of $1,000.

Contributing to an HSA can help you save for future healthcare costs and reduce your taxable income. Be sure to check with your HSA provider or financial advisor to ensure you're making the most of this valuable savings tool.

How Much Can I Contribute to HSA in 2018?

Health Savings Accounts (HSAs) are an excellent way to save for medical expenses while enjoying valuable tax benefits. If you're considering opening an HSA or already have one, you might be curious about the contribution limits for the year 2018. These limits are established by the IRS and vary based on whether you have self-only or family coverage.

For 2018, the maximum contribution limits for HSAs are as follows:

• Self-only coverage: $3,450
• Family coverage: $6,900

Remember, these limits include both individual contributions and contributions made by your employer. If you're aged 55 or older, you qualify for an additional catch-up contribution of $1,000, allowing you to save even more for your healthcare needs.

Contributing to an HSA not only helps you prepare for future medical expenses but can also lead to significant tax savings. It’s advisable to consult with your HSA provider or financial advisor to maximize the benefits of your Health Savings Account.