What is the Maximum HSA Contribution in 2018?

Health Savings Accounts (HSAs) are a valuable financial tool that can help you save for medical expenses while enjoying tax benefits. If you are considering opening an HSA or already have one, it's important to know the maximum contribution limits for each year.

In 2018, the maximum HSA contribution for individuals was $3,450, while for families, it was $6,900. These limits are set by the IRS and may change annually based on inflation and other factors.

Contributions to an HSA are tax-deductible, meaning you can reduce your taxable income by the amount you contribute. Additionally, the funds in your HSA can be invested and grow tax-free, as long as they are used for qualified medical expenses.

It's essential to stay informed about HSA contribution limits to maximize the benefits of your account. Consult with a financial advisor or tax professional to ensure you are making the most of your HSA.

Health Savings Accounts (HSAs) are an excellent financial resource for individuals prioritizing their health and savings. In 2018, the maximum contribution limits were $3,450 for individuals and $6,900 for families. Understanding these limits is crucial for effectively managing your healthcare expenses.