What is the Maximum You Can Contribute to HSA for 2018?

Health Savings Accounts (HSAs) are a great way to save for medical expenses while enjoying tax benefits. One common question people have is, 'What is the maximum you can contribute to HSA for 2018?'

In 2018, individuals with self-only coverage can contribute up to $3,450 to their HSA, while those with family coverage can contribute up to $6,900. If you are 55 or older, you can make an additional 'catch-up' contribution of $1,000.

Contributions to an HSA are tax-deductible, grow tax-free, and can be withdrawn tax-free for qualified medical expenses. It's a triple tax advantage that can help you save money on healthcare costs.

Here are some key points to remember about HSA contributions for 2018:

• Individual coverage maximum contribution: $3,450
• Family coverage maximum contribution: $6,900
• 'Catch-up' contribution for those 55 or older: $1,000

Make sure to take advantage of these contribution limits to maximize your savings and tax benefits with an HSA!

Health Savings Accounts (HSAs) are an excellent way not only to save for medical expenses but also to enjoy significant tax benefits. In 2018, the contribution limits for HSAs are particularly generous. Individuals with self-only health coverage can contribute up to $3,450 to their HSAs. If you have family coverage, that limit jumps to $6,900. Moreover, if you are aged 55 or older, you can take advantage of the 'catch-up' provision that allows an additional $1,000 contribution to your account.