What is the maximum HSA contribution for 2018?

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2018 maximum HSA contributions amounts

Health Savings Accounts (HSAs) have become a popular way for individuals and families to save for medical expenses while enjoying tax benefits. If you're considering opening an HSA or already have one, you may be wondering about the maximum contribution limit for 2018.

In 2018, the maximum HSA contribution for individuals with self-only coverage is $3,450, and for those with family coverage, it is $6,900. However, if you are 55 or older, you are allowed an additional catch-up contribution of $1,000.

Tax benefits and rollover of HSA funds

Contributions to an HSA are tax-deductible, and the funds can be used tax-free for qualified medical expenses. Any unused funds can roll over from year to year, making an HSA a smart way to save for future healthcare costs.

Reiterated 2018 limits and catch-up

Health Savings Accounts (HSAs) are an essential tool for individuals and families looking to save for medical expenses while enjoying tax advantages. In 2018, the contribution limits were set at $3,450 for those with self-only coverage, and a generous $6,900 for family coverage. Plus, if you're 55 or older, you're in luck! You can take advantage of a $1,000 catch-up contribution to further bolster your savings.