HSA Deposit Limits for 2018-2019
The 2018 family maximum Health Savings Account contribution limit is $6,900. It has been widely reported, erroneously, that the limit remains at $6,850. The 2018 single maximum HSA deposit limit is $3,450.
One financial planning strategy everyone can use is to allow your HSA balance to carryover from year to year and be invested in low cost indexed mutual funds. Of course, this does mean you need to pay for healthcare related expenses out of pocket but the long-term tax-deferred growth in and HSA is a very powerful tool in your retirement nest egg. HSA’s may be used to reimburse yourself for previously unreimbursed qualified healthcare expenses, future healthcare expenses, dental, vision and even Medicare Part B, a Medicare Advantage plan (Part C), a prescription drug plan (Part D), and long-term care insurance, and Medicare expenses, such as co-payments and deductibles.
| Health Savings Accounts (HSAs) |
2019 |
2018 |
| HDHP Min Annual Deductible – Single |
$1,350 |
$1,350 |
| HDHP Min Annual Deductible – Family |
$2,700 |
$2,700 |
| HDHP Out of Pocket Max – Single |
$6,750 |
$6,650 |
| HDHP Out of Pocket Max – Family |
$13,500 |
$13,300 |
| HSA Max Contribution Limit – Single |
$3,500 |
$3,450 |
|
HSA Max Contribution Limit – Family |
$7,000 |
$6,900 |
| HSA Catch-Up Contribution Limit |
$1,000 |
$1,000 |
As a reminder, the IRS recently adjusted the 2018 family maximum HSA contribution limit from an earlier reduction of $6,850 back to $6,900, with Revenue Procedure 2018-27.
If you have any questions, please reach out to our resident CPA, Tom Taylor, at 410-823-5442 or via email at [email protected].
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