How Much Money Can an Individual Add to a HSA Account in 2018?

As of 2018, individuals can contribute up to $3,450 to their Health Savings Account (HSA) if they have self-only coverage, or up to $6,900 for family coverage. These contributions are tax-deductible and can be used to pay for qualified medical expenses.

Some additional details to note about HSA contributions in 2018 include:

• Individuals aged 55 and older can make an additional catch-up contribution of $1,000 per year.
• Contributions made by an employer also count towards the annual limit set by the IRS.
• If you have a High Deductible Health Plan (HDHP), you are eligible to open and contribute to an HSA.

In 2018, individuals had the opportunity to contribute a maximum of $3,450 to their Health Savings Account (HSA) for self-only coverage, while those with family coverage could contribute up to $6,900. These contributions not only provide a tax-deductible savings option but also empower users to cover qualified medical expenses efficiently.