How Much Can I Invest in HSA in 2018?

If you're considering investing in a Health Savings Account (HSA) in 2018, it's important to know the contribution limits set by the IRS for that year. In 2018, individuals with self-only coverage in a high deductible health plan (HDHP) can contribute up to $3,450, while those with family coverage can contribute up to $6,900. These limits are set to help individuals save for medical expenses tax-free.

Contributions to an HSA can be made by you, your employer, or both. The total contribution made by both you and your employer cannot exceed the annual limit set by the IRS. Additionally, individuals aged 55 and older can make an additional catch-up contribution of $1,000.

It's essential to maximize your HSA contributions to take full advantage of the tax benefits and use the funds for qualified medical expenses. By investing in an HSA, you can save for current medical expenses and build a retirement health care fund for the future.

If you're looking at the benefits of investing in a Health Savings Account (HSA) in 2018, understanding the specific contribution limits is key. For individuals with self-only coverage via a high deductible health plan (HDHP), you're allowed to contribute up to $3,450. If you have family coverage, that limit increases to $6,900—funds that can grow tax-free for medical expenses.