What is the 2018 HSA Contribution? - All You Need to Know

When it comes to Health Savings Accounts (HSAs), one common question that arises is 'what is the 2018 HSA contribution limit?' For the year 2018, the contribution limits for HSAs were as follows:

• For individuals: $3,450
• For families: $6,900

These contribution limits are set by the IRS each year and are subject to change. It's essential to stay updated on the latest limits to make the most of your HSA benefits.

Contributing to an HSA is a great way to save for medical expenses while enjoying tax advantages. Here are some key points to consider about HSA contributions:

• Contributions are tax-deductible
• Contributions grow tax-free
• Withdrawals for qualified medical expenses are tax-free
• Unused funds roll over each year

It's crucial to understand the contribution limits and rules surrounding HSAs to maximize the benefits they offer. Consult with a financial advisor or tax professional for personalized guidance on managing your HSA contributions.

Understanding Health Savings Accounts (HSAs) is crucial for making the most out of your healthcare finances. In 2018, the contribution limits were established at $3,450 for individuals and $6,900 for families. These limits are defined by the IRS annually, so be sure to stay informed about any changes.