What is the max HSA contribution for 2018?

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What HSAs are and their limits

Health Savings Accounts (HSAs) are a valuable tool for saving and paying for medical expenses. In 2018, the maximum HSA contribution limit for individuals was $3,450, and for families, it was $6,900. These contribution limits are set by the IRS and can be adjusted annually.

Health Savings Accounts (HSAs) are a fantastic financial tool for managing healthcare costs while enjoying tax advantages. In 2018, individuals could contribute up to $3,450, while families had a maximum contribution limit of $6,900. These amounts are subject to yearly adjustments set by the IRS, so it's essential to stay informed about current limits.

Tax benefits of HSA contributions

Contributions to an HSA are tax-deductible, meaning that the money you contribute is not subject to federal income tax. Additionally, the funds in your HSA can be invested, allowing them to grow tax-free over time. This makes an HSA a powerful way to save for medical expenses both now and in the future.