What is the 2018 limit for HSA contributions?

Health Savings Accounts (HSAs) are a great way to save money for medical expenses while enjoying tax benefits. One of the key features of an HSA is the contribution limit for each year, which can change annually.

In 2018, the limit for HSA contributions was $3,450 for individuals and $6,900 for families. This means that individuals could contribute up to $3,450 to their HSA account, while families could contribute up to $6,900.

It's essential to be aware of these limits to maximize the benefits of your HSA and plan your contributions accordingly. By contributing the maximum allowed amount, you can take full advantage of the tax savings and ensure that you have enough funds set aside for future medical expenses.

Understanding Health Savings Accounts (HSAs) is crucial for everyone looking to save on medical expenses while enjoying unique tax advantages. For the year 2018, the contribution limit was set at $3,450 for individuals, and for families, it was capped at $6,900. Contributing up to these limits not only maximizes tax benefits but ensures that you’re financially prepared for unexpected health costs.