How Much to Distribute to HSA for 2018?

When it comes to deciding how much to distribute to your HSA for 2018, there are a few key factors to consider. To make the most of your HSA, it's important to understand the contribution limits set by the IRS and how these can benefit your healthcare expenses.

For 2018, the maximum contribution limit for individuals with self-only coverage is $3,450, and for those with family coverage, it is $6,900. If you are 55 or older, you can make an additional catch-up contribution of $1,000.

Calculating how much to distribute to your HSA involves considering your expected healthcare expenses for the year, your current medical needs, and any contributions from your employer. It's important to strike a balance between saving for future medical costs and having enough funds to cover current healthcare expenses.

By contributing to your HSA, you not only save on taxes but also build a financial cushion for any unexpected medical emergencies. It's a tax-advantaged way to save for healthcare costs now and in the future.

When deciding how much to contribute to your Health Savings Account (HSA) for 2018, it's essential to keep in mind the limits set by the IRS and how they can benefit your overall healthcare expenses. Understanding these factors is key.