How Much Can You Contribute to Your HSA in 2018?

Health Savings Accounts (HSAs) are a great way to save for medical expenses while enjoying tax benefits. One of the common questions regarding HSAs is how much you can contribute to it in a specific year, like in 2018.

In 2018, the contribution limits for HSAs were:

• For individuals: $3,450
• For families: $6,900
• Additional catch-up contributions for individuals aged 55 and over: $1,000

It's important to note that these limits can change from year to year, so it's always advisable to check the most recent updates.

Health Savings Accounts (HSAs) provide individuals and families with an excellent opportunity to save for medical expenses, all while taking advantage of substantial tax benefits. In 2018, contribution limits for HSAs played a pivotal role in helping people maximize their healthcare savings.

For the year 2018, the contribution limits were:

• Individual coverage: $3,450
• Family coverage: $6,900
• If you are aged 55 and older, you could make an additional catch-up contribution of $1,000, upping your potential savings.

Remember, these limits are subject to annual adjustments, so it’s wise to stay informed about changes each year to make the most of your HSA.