What was the maximum contribution to an HSA for a 64-year-old in 2018?

Health Savings Accounts (HSAs) are a valuable tool for individuals looking to save for medical expenses while gaining tax advantages. If you are 64 years old and are considering contributing to an HSA in 2018, you might be wondering what the maximum allowable contribution is for your age group. The maximum contribution to an HSA for a 64-year-old in 2018 was $6,900 for individuals with self-only coverage and $13,800 for those with family coverage.

Contributions to an HSA can be made by you, your employer, or both, and these contributions are tax-deductible. It's important to note that catch-up contributions are also allowed for individuals aged 55 and older, allowing them to contribute an additional $1,000 per year to their HSA.

Did you know that Health Savings Accounts (HSAs) can significantly boost your financial planning for medical expenses? For a 64-year-old in 2018, the maximum contribution was set at $6,900 for self-only coverage, while those opting for family coverage could contribute up to $13,800. This makes HSAs an appealing option for saving for healthcare costs.