What is the max allowed for HSA in 2018?

Health Savings Accounts (HSAs) are a valuable tool for individuals and families to save for medical expenses while enjoying tax benefits. In 2018, the maximum contribution allowed for an HSA depends on whether you have self-only or family coverage.

For self-only coverage, the maximum contribution limit for 2018 was $3,450. If you had family coverage, the maximum contribution limit was $6,900. However, it's important to note that these limits can change annually due to inflation adjustments.

Contributions to an HSA are tax-deductible, grow tax-free, and can be withdrawn tax-free for qualified medical expenses. This triple tax advantage makes HSAs an attractive option for managing healthcare costs.

Health Savings Accounts (HSAs) are designed to help you set aside money for healthcare expenses while offering substantial tax savings. In 2018, if you had self-only coverage, you could contribute up to $3,450, while those with family coverage could contribute a maximum of $6,900, making HSAs an essential aspect of financial planning for medical needs.