How Much Money Can You Deposit into HSA for 2018?

For the year 2018, individuals with a High-Deductible Health Plan (HDHP) can deposit up to the IRS annual contribution limit into their Health Savings Account (HSA). The contribution limit varies for individuals and families. In 2018, the maximum contribution limits were $3,450 for individuals and $6,900 for families.

It's important to note that these contribution limits are subject to change each year, so it's essential to stay updated on the current limits. Additionally, individuals who are 55 or older are eligible for catch-up contributions, allowing them to deposit an additional $1,000 on top of the regular contribution limit.

Contributions made to an HSA are tax-deductible, meaning they can reduce your taxable income for the year. Any funds not used within the year roll over to the following year, making an HSA a valuable long-term savings tool for healthcare expenses.

If you're wondering how much you can save in your Health Savings Account (HSA) for the year 2018, it's crucial to know that individuals with a High-Deductible Health Plan (HDHP) can contribute up to $3,450, while families can deposit up to $6,900. Keeping track of these limits will ensure you maximize your savings.