How much is the HSA contribution for 2018?

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2018 HSA contribution limits and catch-up

Health Savings Accounts (HSAs) are a great way to save for medical expenses while enjoying tax benefits. If you're wondering how much you can contribute to your HSA for the year 2018, the limits are as follows:

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

Tax benefits and future qualified use

These contributions are tax-deductible and can be used to pay for qualified medical expenses both now and in the future.

Health Savings Accounts (HSAs) provide an excellent opportunity not just to save for future medical expenses, but also to reduce your taxable income. For the tax year 2018, the HSA contribution limits are set at $3,450 for individuals and $6,900 for families. Additionally, if you are aged 55 or older, you can make a catch-up contribution of $1,000. Remember, any contributions you make can be tax-deductible, which means you can save money while preparing for healthcare costs.