How Much to Contribute to HSA in 2018?

Health Savings Accounts (HSAs) are a great way to save for medical expenses while taking advantage of tax benefits. If you're wondering how much you can contribute to your HSA in 2018, the answer depends on your specific situation.

For individuals, the 2018 contribution limit is $3,450 and for families, it's $6,900. However, if you're 55 or older, you can contribute an additional $1,000 as a 'catch-up' contribution.

It's important to keep in mind that these contribution limits are subject to change each year, so it's a good idea to stay informed about any updates from the IRS or your HSA provider.

Health Savings Accounts (HSAs) offer an excellent way for individuals and families to save for healthcare costs while enjoying significant tax advantages. For the year 2018, individuals can contribute a maximum of $3,450 to their HSA, while families are allowed to contribute up to $6,900. It's noteworthy that if you are 55 years or older, you can take advantage of an additional 'catch-up' contribution of $1,000, bringing your potential total to $4,450 or $7,900 respectively.