What is the max I can put into my HSA pre-tax 2018?

Are you wondering how much you can contribute to your Health Savings Account (HSA) on a pre-tax basis in 2018? Let's explore the limits and benefits of HSA contributions for the tax year 2018.

An HSA is a tax-advantaged savings account that individuals enrolled in a high-deductible health plan can use to save for qualified medical expenses. Contributions to an HSA are tax-deductible, grow tax-free, and withdrawals for qualified medical expenses are also tax-free.

For the tax year 2018, the maximum contribution limits for HSAs are:

• $3,450 for individuals
• $6,900 for families
• Additional catch-up contribution of $1,000 for those aged 55 and older

It's important to note that these contribution limits are for the entire year, so if you make contributions through payroll deductions, be mindful of staying within the annual limits to maximize your tax benefits. Also, keep in mind that contributions made by your employer are included in these limits.

By contributing the maximum allowed amount to your HSA, you can enjoy significant tax savings and build a substantial fund for future medical expenses. Consult with a tax advisor or financial planner to determine the best strategy for maximizing your HSA contributions while staying compliant with IRS regulations.

Are you curious about how much you can stash away pre-tax in your Health Savings Account (HSA) for 2018? Let's dive into the contributions limits and their countless benefits!

Your HSA offers an amazing opportunity if you're enrolled in a high-deductible health plan. It allows you to set aside money for medical expenses while enjoying tax benefits across the board.

In 2018, the contribution limits for your HSA are:

• $3,450 for individual accounts
• $6,900 for family accounts
• If you're 55 or older, you can contribute an extra $1,000 as a catch-up contribution!

Remember, these caps apply to the entire year. If you're contributing directly from your paycheck, keep an eye on your contributions to fully leverage those tax advantages. Don't forget, contributions from your employer count towards these limits too!

Maxing out your contributions can lead to substantial tax savings while building a solid fund for unexpected medical expenses. To stay compliant with IRS rules and develop a winning strategy, seeking guidance from a tax advisor or financial planner is a smart move.