What is the individual contribution limit for HSA 2018?

Health Savings Accounts (HSAs) are a great way to save for medical expenses while enjoying tax benefits. One important aspect to consider when using an HSA is the annual individual contribution limit.

For the year 2018, the individual contribution limit for HSA is $3,450 for self-only coverage and $6,900 for family coverage.

These limits represent the maximum amount an individual can contribute to their HSA for that year. It's important to note that these limits may change from year to year, so it's essential to stay updated on the latest information.

Health Savings Accounts (HSAs) are fantastic tools for setting aside money specifically for medical expenses, allowing individuals to enjoy significant tax advantages. In 2018, if you had self-only coverage, you could contribute up to $3,450, while families could save even more with a limit of $6,900. These contributions are not only tax-deductible but also grow tax-free, making them a powerful part of your financial planning.