What is the Maximum Amount to Make an Additional Contribution to HSA in 2018?

Health Savings Accounts (HSAs) are a great way to save for medical expenses while enjoying tax advantages. If you are considering making additional contributions to your HSA in 2018, you might be wondering what the maximum amount is that you can contribute.

In 2018, the maximum amount that individuals can contribute to an HSA if they have a qualifying high-deductible health plan is $3,450 for self-only coverage and $6,900 for family coverage.

It's important to note that these limits are for contributions made by individuals. If you have a family HSA plan, you and your employer combined can contribute up to the family coverage limit of $6,900 for 2018.

Additionally, if you are 55 or older, you are allowed to make catch-up contributions to your HSA. In 2018, the catch-up contribution limit is $1,000, making the total maximum contribution for individuals 55 or older $4,450 for self-only coverage and $7,900 for family coverage.

Health Savings Accounts (HSAs) are an excellent choice for those looking to manage their healthcare costs while benefiting from significant tax deductions. In 2018, individuals with a qualifying high-deductible health plan are allowed to contribute a maximum of $3,450 if they have self-only coverage, and $6,900 if they are covering their entire family.