What is the max for HSA in 2017 vs 2018?

Health Savings Accounts (HSAs) provide a tax-advantaged way to save for medical expenses. One of the key aspects of HSAs is the contribution limit, which determines the maximum amount you can contribute to your HSA each year. Let's explore the differences between the HSA contribution limits in 2017 and 2018.

In 2017, the maximum contribution limit for an individual with self-only coverage was $3,400, and for those with family coverage, it was $6,750. In comparison, the HSA contribution limits for 2018 increased slightly.

For 2018, the maximum contribution limit for individuals with self-only coverage was $3,450, an increase of $50 from the previous year. For those with family coverage, the limit was $6,900, reflecting a $150 increase.

Summary of HSA Contribution Limits:

• 2017 - Self-only: $3,400, Family: $6,750
• 2018 - Self-only: $3,450 (+$50), Family: $6,900 (+$150)

It's essential to be aware of these contribution limits when planning your healthcare expenses and contributions to your HSA. Consult with a financial advisor or tax professional to maximize the benefits of your HSA and ensure compliance with the regulations.

Health Savings Accounts (HSAs) are an excellent way to save for medical expenses while enjoying tax benefits. In addition to understanding the HSA contribution limits for 2017 and 2018, it's crucial to recognize how these limits can affect your overall financial strategy.