What is the Maximum HSA Individual Contribution for 2018?

If you are considering opening a Health Savings Account (HSA) or already have one, you may wonder what the maximum individual contribution limit for 2018 is. For the tax year 2018, the maximum HSA individual contribution allowed by the IRS is:

$3,450 for self-only coverage

$6,900 for family coverage

These limits are set by the IRS and may be subject to annual adjustments. It's important to be aware of the maximum contribution limits to ensure you are maximizing the benefits of your HSA. Contributions to an HSA are tax-deductible and can be used to pay for qualified medical expenses.

Additionally, individuals aged 55 and older can make catch-up contributions to their HSA. For 2018, the catch-up contribution limit is an additional $1,000.

For those exploring the benefits of a Health Savings Account (HSA), understanding the maximum contribution limits can significantly enhance your savings for healthcare costs. In 2018, the IRS set these maximum individual contributions at $3,450 for self-only coverage and $6,900 for family coverage.