How Much Can I Contribute to an HSA in 2018? - Important Guidelines by .gov

When it comes to contributing to a Health Savings Account (HSA) in 2018, there are specific guidelines set by the government that you need to be aware of. HSAs are a great way to save for medical expenses while enjoying tax benefits. So, how much can you contribute to an HSA in 2018?

For 2018, the government has set the contribution limits for HSAs as follows:

• Individuals: $3,450
• Family coverage: $6,900
• Catch-up contributions (55 and older): Additional $1,000

It's crucial to adhere to these limits to avoid any penalties or issues with the IRS. Remember, contributions to your HSA are tax-deductible, grow tax-free, and can be withdrawn tax-free for qualified medical expenses.

By being aware of the contribution limits and following the rules, you can make the most out of your HSA and enjoy the benefits it offers.

In 2018, contributing to a Health Savings Account (HSA) is an excellent way to prepare for unexpected medical expenses while enjoying valuable tax benefits. Understanding the contribution limits is essential for maximizing your savings.

The contribution limits for HSAs in 2018 are:

• Individuals: $3,450
• Family coverage: $6,900
• Catch-up contributions for those 55 and older: an additional $1,000

Make sure to adhere to these limits to avoid penalties from the IRS. Contributions to your HSA are not only tax-deductible but also grow tax-free, allowing you to make the most of your savings!