$6,900 Re-established as 2018 HSA Contribution Limit for Certain Individuals

$6,900 Re-established as 2018 HSA Contribution Limit for Certain Individuals

April 27, 2018 – The Internal Revenue Service (IRS) has re-established $6,900 as the 2018 health savings account (HSA) contribution limit for individuals with family coverage under a high deductible health plan (HDHP). This limit was previously announced as $6,900 in May 2017, but was revised to $6,850 in March 2018 due to an inflation adjustment provision in the Tax Cuts and Jobs Act. The 2018 health savings account (HSA) contribution limit for individuals with self-only coverage under a HDHP remains unchanged at $3,450.

Click here to read the IRS announcement.

Employer Action

Communicate this change to your employees who have an HSA.

 

If you have questions about the impact of this change, contact your North Risk Partners advisor. Don’t have an advisor? No problem. We’ll help you find one.

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This regulatory update is not intended to be exhaustive nor should any discussion or opinions be construed as legal advice. Readers should contact legal counsel for legal advice.