Is 2018 HSA Contribution Limit the Same as 2017? - All You Need to Know

If you're wondering whether the 2018 Health Savings Account (HSA) contribution limit is the same as it was in 2017, you're in the right place. Health Savings Accounts are a popular option for individuals and families looking to save for medical expenses while enjoying tax benefits. Let's delve into the details to understand the limits for both years.

In 2017, individuals could contribute up to $3,400 to their HSA accounts, while families had a limit of $6,750. These limits included both personal contributions and employer contributions. Now, let's see what changes, if any, were made for 2018.

For the year 2018, the contribution limits for HSAs did see an increase compared to 2017. Individuals were allowed to contribute up to $3,450, and families could contribute up to $6,900. It's essential to note these limits are for those with high-deductible health plans (HDHPs) and who meet other HSA eligibility requirements.

These contribution limits are set by the IRS and are updated annually to account for inflation. It's crucial for individuals and families who utilize HSAs to stay informed about the current limits to maximize the benefits of these accounts.

Are you curious if the 2018 Health Savings Account (HSA) contribution limits have changed from 2017? You’re in the right spot! HSAs are growing in popularity with individuals and families hoping to save for medical expenses while earning tax advantages. Let’s break down the contributions for both years.

In 2017, the individual limit was $3,400 while families could stash away $6,750. Importantly, these amounts included contributions from both employees and employers. But what about 2018? Let’s find out!

Good news! For 2018, the contribution limits increased slightly. Individuals could contribute a maximum of $3,450 while families could contribute up to $6,900. Don’t forget—these limits apply to those enrolled in a high-deductible health plan (HDHP) and who meet specific HSA eligibility criteria.

These annual limits are adjusted by the IRS, taking inflation into account. Staying updated on these limits is vital for making the most of your Health Savings Account and optimizing your savings!