What is the total HSA contribution limit for 2018?

Health Savings Accounts (HSAs) are a great way to save for medical expenses while enjoying tax benefits. In 2018, the total HSA contribution limit for individuals was $3,450, and for family coverage, it was $6,900. However, if you were 55 or older, you could contribute an additional $1,000 as a catch-up contribution.

HSAs offer a triple tax advantage - contributions are tax-deductible, the account grows tax-free, and withdrawals for qualified medical expenses are also tax-free. It's a powerful tool for managing healthcare costs and saving for the future.

Health Savings Accounts (HSAs) are an excellent way to set aside funds for medical expenses while also benefiting from tax breaks. In 2018, individuals could contribute up to $3,450, while families enjoyed a limit of $6,900. For those aged 55 and older, an additional catch-up contribution of $1,000 was permitted, allowing for more savings as retirement approaches.