How Much Can I Contribute to HSA if I am 64 and Single in 2018?

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2018 HSA limits for age 64

When it comes to Health Savings Accounts (HSAs), there are specific contribution limits based on your age and filing status. If you are 64 years old and single in the year 2018, there are certain guidelines you need to be aware of.

For individuals aged 55 and older, there is an additional catch-up contribution allowed beyond the regular annual limits. In 2018, the maximum contribution for a single individual aged 55 and over is $4,450. For those who are 64 years old, this amount remains the same.

Annual contribution applies mid-year

It is important to note that these contribution limits are for the entire year, regardless of when you open your HSA. If you open your account mid-year, you are still subject to the annual contribution limit.

Eligibility and retirement contribution reminder

Understanding your contributions to a Health Savings Account (HSA) is crucial, especially when you're at the age of 64 and single in 2018. The IRS allows you to contribute up to $4,450 if you're 55 or older, which means you're eligible for this benefit. Make sure to take advantage of this opportunity to secure your medical expenses as you approach retirement.