What is the limit for individual HSA contributions in 2018?

Health Savings Accounts (HSAs) are a valuable tool for managing healthcare expenses. In 2018, the limit for individual HSA contributions was set at $3,450 for self-only coverage and $6,900 for family coverage.

Contributions to an HSA are tax-deductible, which means you can reduce your taxable income by the amount you contribute to the account. This can lead to significant savings on your taxes each year.

It's important to note that these contribution limits are subject to change each year, so it's essential to stay informed about the current limits to maximize the benefits of your HSA.

Health Savings Accounts (HSAs) are a fantastic way to set aside pre-tax dollars for your medical expenses. In 2018, the individual contribution limit was $3,450 for self-only coverage and $6,900 for families, encouraging individuals to save for healthcare. By contributing to an HSA, you not only save on taxes but also gain the flexibility to use the funds for a wide range of medical expenses, including deductibles, copayments, and even some over-the-counter medications.