2018 offers individuals and families additional opportunities to save for current and future health care with a Health Savings Account (HSA):
- HSA holders can choose to save up to $3,450 for an individual and $6,900 for a family (HSA holders 55 and older get to save an extra $1,000 which means $4,450 for an individual and $7,900 for a family) – and these contributions are 100% tax deductible from gross income.
- Minimum annual deductibles are $1,350 for self-only coverage or $2,700 for family coverage.
- Annual out-of-pocket expenses (deductibles, copayments, and other amounts, but not premiums) cannot exceed $6,650 for self-only coverage and $13,300 for family coverage.
| Minimum Deductible |
Maximum Out-of-Pocket |
Contribution Limit | 55+ Contribution | ||
|---|---|---|---|---|---|
| Single | $1,350 | $6,650 | $3,450 | $1,000 | |
| Family | $2,700 | $13,300 | $6,900 | $1,000 |
For more detailed information on HSA plans and taxes, visit the U.S. Department of Treasury website at www.ustreas.gov or talk with your tax advisor.