How Much Can I Put in HSA Account 2018? Explained in Detail

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2018 HSA contribution limits by coverage type

If you are wondering how much you can contribute to your HSA account in 2018, you have come to the right place. Health Savings Accounts (HSAs) are a great way to save for medical expenses while enjoying tax benefits. In 2018, individuals with self-only coverage can contribute up to $3,450 to their HSA account, while those with family coverage can contribute up to $6,900.

Are you curious about the contribution limits for your HSA account in 2018? You're in luck! HSAs are an outstanding tool for managing medical expenses while reaping significant tax benefits. For the year 2018, individuals with self-only health coverage can contribute up to $3,450 into their HSA, and those with family plans have a generous limit of $6,900.

Catch-up contributions and tax benefit notes

Additionally, individuals aged 55 and older are eligible for an extra $1,000 catch-up contribution. This means that older individuals with self-only coverage can contribute up to $4,450, and those with family coverage can contribute up to $7,900.

It's important to note that these contribution limits are set by the IRS and are subject to change each year. The money you contribute to your HSA account is tax-deductible, grows tax-free, and can be withdrawn tax-free for qualified medical expenses.