2018 HSA Contributions1 min read • October 31, 2017
The IRS has released the 2018 HSA contributions limits for individuals and families. 2018 HSA contributions are $3,450 for individuals and $6,900 for families.
2018 HSA Contributions Limits
As a reference, the 2017 HSA Contributions limits were $3,400 for individuals and $6,750 for families. This means the individual contribution limits increased $50 and family contributions increased $150.
HSA catch-up contributions will remain at an additional $1,000 for qualifying individuals over the age of 55.
As you may know, an HSA is not a health insurance plan, but can (and should) be used in conjunction with all HSA-eligible plans (like a high deductible health plan). Qualifying HSA-eligible plan requirements have changed, just slightly, in 2018.
In 2018, HSA-eligible plans that qualify must have minimum deductibles of $1,350 for individuals and $2,700 for families. This is a $50 and $100 increase from 2017 respectively. Qualifying plans must have maximum out-of-pocket amounts of less than $6,650 for individuals and $13,300 for families. This is a $100 and $200 increase from 2017 respectively.
HSAs continue to grow and have already eclipsed 21 million accounts and $42.7 billion in assets. As the contributions limits are raised year over year, it will only continue to fuel HSA growth and provide more tax-free money for individuals and families to save for qualified out-of-pocket medical expenses.
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