How Much Can I Contribute to HSA and FSA in 2018?

When it comes to planning for your healthcare expenses, understanding how much you can contribute to your Health Savings Account (HSA) and Flexible Spending Account (FSA) is crucial. In 2018, the contribution limits for HSA and FSA were set by the IRS.

For 2018, the maximum contribution limits were:

• HSA: $3,450 for individuals and $6,900 for families
• FSA: $2,650 per individual

It's important to note that these contribution limits may vary each year, so staying informed about the current limits is essential to maximize your tax benefits and savings. Additionally, contributions to these accounts are tax-deductible, and the funds can be used for qualified medical expenses.

Understanding contribution limits for your Health Savings Account (HSA) and Flexible Spending Account (FSA) is vital for effective financial planning. In 2018, you could save up to $3,450 in an HSA if you were single, or $6,900 if you had a family policy.