How much money can you put into your HSA in 2018?

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What HSAs are and their benefits

Are you curious about how much money you can contribute to your Health Savings Account (HSA) in 2018? An HSA is a tax-advantaged savings account that allows individuals to set aside money for qualified medical expenses.

In 2018, individuals with self-only coverage can contribute up to $3,450 to their HSA, while those with family coverage can contribute up to $6,900. Additionally, if you are 55 or older, you are eligible to make an additional catch-up contribution of $1,000 per year.

IRS-set contribution limits and tax advantages

It's important to keep in mind that these contribution limits are set by the IRS and are subject to change each year. Your contributions to an HSA are tax-deductible, grow tax-free, and can be withdrawn tax-free for qualified medical expenses.

How to maximize HSA contributions

By contributing to an HSA, you can save money on medical expenses and have a financial safety net for unexpected health costs. It's a smart way to plan for healthcare expenses while also saving on taxes.

Are you looking to maximize your Health Savings Account (HSA) contributions in 2018? With the right strategy, you can make the most of this tax-advantaged account designed for medical expenses. For individuals with self-only coverage, the contribution limit is $3,450, while those with family coverage can contribute up to $6,900. If you’re 55 or older, don't forget about the additional catch-up contribution allowing you to set aside an extra $1,000 annually!