HSA 2018: Is it $6850 or $6900?

When it comes to HSA contributions for the 2018 tax year, the amount allowed depends on whether you have an individual or a family plan. In 2018, for individual plans, the HSA contribution limit was $3,450, while for family plans, it was $6,900.

However, if you were 55 or older, you were eligible to make an additional catch-up contribution of $1,000. This means that for individual plans, the maximum contribution would be $4,450, and for family plans, it would be $7,900.

It's important to note that these limits are specific to the 2018 tax year and may vary in other years. Additionally, the IRS may adjust these limits annually to account for inflation, so it's always a good idea to check the latest guidelines.

In 2018, understanding the HSA contribution limits was crucial for taxpayers. For an individual health plan, you could contribute up to $3,450, whereas for family coverage, the limit was set at $6,900. Don't forget, if you were age 55 or older, you had the opportunity to boost those contributions with an additional $1,000 catch-up, bringing the total to $4,450 for individual plans and a robust $7,900 for families.