What is the HSA Savings Limit for 2018?

Health Savings Accounts, or HSAs, are a valuable way to save for medical expenses. In 2018, the IRS set limits on how much individuals could contribute to their HSA accounts.

For those with self-only coverage, the HSA savings limit for 2018 was $3,450. If you had family coverage, the limit was $6,900. These limits were set to help individuals and families save for qualified medical expenses while also receiving tax benefits.

Contributions to HSAs are tax-deductible, grow tax-free, and can be withdrawn tax-free for qualified medical expenses. This triple tax benefit makes HSAs a powerful tool for healthcare savings.

Health Savings Accounts (HSAs) are not just a smart way to save for medical expenses; they're also an incredible opportunity for tax savings. In 2018, the contribution limits were set at $3,450 for individuals with self-only coverage and $6,900 for those with family coverage. By taking full advantage of these limits, you can improve your financial health while preparing for unexpected medical expenses.