HSA Contribution Limit 2018: What is the Maximum I Can Put Into My HSA for 2018 as a Single Individual?

Health Savings Accounts (HSAs) are a great way to save for medical expenses while enjoying tax benefits. If you are wondering about the maximum contribution limit for a single individual in 2018, you've come to the right place.

For the year 2018, the maximum amount you can contribute to your HSA as a single individual is $3,450. This limit applies to individuals who have self-only coverage under a High Deductible Health Plan (HDHP).

Contributions to your HSA can be made by you, your employer, or both. It's important to note that the total contributions from all sources cannot exceed the annual limit set by the IRS.

Here are some key points to keep in mind about HSA contributions for 2018:

• The contribution limit for individuals with family coverage under an HDHP is $6,900 for 2018.
• If you are 55 or older, you can make an additional $1,000 catch-up contribution to your HSA.
• Contributions to your HSA are tax-deductible, and the funds in your account can be used tax-free for qualified medical expenses.

It's essential to stay informed about the contribution limits and rules regarding HSAs to make the most of this valuable savings tool. By maximizing your contributions, you can build a fund for healthcare expenses while enjoying tax advantages.

Understanding Health Savings Accounts (HSAs) is essential for every individual looking to save on healthcare costs. In 2018, the maximum contribution limit for a single person with self-only coverage under a High Deductible Health Plan (HDHP) is $3,450. This annual limit allows you to allocate funds specifically for your healthcare needs while reaping tax benefits.