How Much Credit Do We Get for a Catch-Up HSA Contribution for 2018?

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2018 catch-up limit for age 55+

When it comes to Health Savings Accounts (HSAs), making catch-up contributions can significantly benefit your financial health. For the year 2018, individuals aged 55 or older are allowed to make additional catch-up contributions to their HSA accounts. The standard contribution limit for 2018 was $3,450 for individuals and $6,900 for families. However, the catch-up contribution limit for those aged 55 or older was an additional $1,000.

By taking advantage of the catch-up contribution option, older individuals can contribute even more to their HSA accounts, allowing them to save more for future medical expenses and enjoy additional tax benefits.

Catch-up HSA contributions can be a game-changer for individuals aged 55 and older, especially in 2018 when the standard contribution limits were set at $3,450 for singles and $6,900 for families. The added bonus? A catch-up contribution of $1,000 can significantly bolster your savings for medical expenses.

2018 catch-up contribution breakdown

Here's a breakdown of how much credit you can get for a catch-up HSA contribution for 2018:

• Standard contribution limit for individuals: $3,450
• Standard contribution limit for families: $6,900
• Catch-up contribution limit for individuals aged 55 or older: $1,000