How Much Can I Put into an HSA for 2018?

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2018 HSA contribution limits and catch-up

For the year 2018, the maximum contribution limit set by the IRS for Health Savings Accounts (HSAs) was $3,450 for individuals and $6,900 for families. If you were 55 years or older, an additional $1,000 catch-up contribution was allowed.

In 2018, individuals could contribute up to $3,450 to their Health Savings Accounts (HSAs), while families were allowed a generous $6,900. If you were aged 55 or older, you could even add an extra $1,000 as a catch-up contribution, maximizing your savings for healthcare costs.

How contributions can be made and capped

Contributions to your HSA can be made by you, your employer, or both, but the total contributions should not exceed the maximum allowed limit.

It's essential to keep in mind that these contribution limits are for the calendar year, and if you have opened the HSA mid-year, you will have to prorate your contributions accordingly.

Tax benefits of HSA contributions

Contributions to your HSA are tax-deductible and grow tax-free, making it a valuable tool for saving on healthcare expenses both now and in the future.