What is the maximum HSA contribution in 2018?

If you're considering using a Health Savings Account (HSA) to save for medical expenses, you might be wondering what the maximum contribution limit is for the year 2018.

In 2018, the maximum HSA contribution limits are:

• $3,450 for individuals
• $6,900 for families

However, if you are 55 years or older, you are eligible to make an additional catch-up contribution of $1,000 to your HSA.

Contributions to your HSA are tax-deductible, grow tax-free, and can be withdrawn tax-free for qualified medical expenses.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 for healthcare costs in the long term.

As with any financial decision, it's essential to consult with a financial advisor or tax professional to understand all the rules and regulations surrounding HSAs and ensure you are maximizing your contributions while staying compliant with the IRS guidelines.

If you're considering a Health Savings Account (HSA) for your healthcare expenses, it’s important to know that for the year 2018, the maximum contribution limit was set at $3,450 for individuals and $6,900 for families. Additionally, those aged 55 and older have the advantage of contributing an extra $1,000 each year.