How Much Money Can Be Contributed to an HSA During 2018?

Health Savings Accounts (HSAs) are a great way to save for medical expenses while enjoying tax benefits. In 2018, the contribution limits for an HSA are:

• For individuals: up to $3,450
• For families: up to $6,900
• If you are 55 or older, you can contribute an additional $1,000 per year as a catch-up contribution.

It's important to note that these limits are set by the IRS and may change from year to year, so it's essential to stay updated on the current contribution limits. Contributing the maximum amount to your HSA can help you save for future medical expenses and maximize your tax savings.

Health Savings Accounts (HSAs) are a stellar way to not only cover your medical expenses but also to enjoy incredible tax savings. For the year 2018, the IRS has set specific contribution limits: individuals can contribute up to $3,450, and families can set aside as much as $6,900. If you're 55 or older, you're in luck—you can contribute an additional $1,000 as a catch-up contribution. Staying on top of these limits is crucial as they may vary in the following years, ensuring you always maximize your savings and tax benefits.