How Much Can I Put in My HSA 2018?

If you're wondering how much you can contribute to your Health Savings Account (HSA) in 2018, you've come to the right place. Understanding the contribution limits for your HSA can help you maximize your tax benefits and save more for future medical expenses.

In 2018, the maximum annual contribution limit for individuals with self-only coverage is $3,450, and for individuals with family coverage, it is $6,900. However, it's essential to note that these limits are subject to change each year, so it's crucial to stay updated on the current limits.

Contributions to your HSA are tax-deductible, meaning you can reduce your taxable income by the amount you contribute to your account. Additionally, any interest or investment earnings on your HSA funds are tax-free, making it a powerful tool for saving on healthcare costs.

It's important to keep track of your contributions throughout the year to ensure you do not exceed the annual limits. Excess contributions may be subject to additional taxes, so it's best to stay within the allowable limits.

If you're curious about maximizing your Health Savings Account (HSA) contributions in 2018, you're in luck. The maximum contribution limits were set at $3,450 for individuals with self-only coverage and $6,900 for those with family coverage, allowing you to save more effectively for medical expenses while enjoying tax benefits.