What is the maximum permitted HSA contribution in 2018?

Health Savings Accounts (HSAs) are a great way to save money for medical expenses while enjoying tax benefits. If you have an HSA, you might wonder what the maximum permitted contribution for 2018 is.

In 2018, the maximum annual HSA contribution for individuals with self-only coverage is $3,450, while for those with family coverage, it's $6,900. Additionally, individuals who are 55 or older can make catch-up contributions of up to $1,000.

It's important to note that these contribution limits are subject to change annually, so it's a good idea to stay informed about any updates from the IRS. By contributing the maximum allowed amount to your HSA, you can take full advantage of the tax benefits and ensure that you have enough funds for any future medical expenses.

Health Savings Accounts (HSAs) not only help you save money for medical expenses but also provide significant tax advantages. For the year 2018, the HSA contribution limits were set, allowing individuals with self-only coverage to contribute a maximum of $3,450 and those with family coverage to contribute up to $6,900.