IRS reduces HSA family contribution limit retroactive to January 1, 2018

On Monday, March 5, the Internal Revenue Service (IRS) issued IRS Bulletin (2018-10), changing the Health Savings Account (HSA) 2018 family contribution limit to $6,850.
  • The original 2018 limit had been set for $6,900 and is now reduced by $50.
  • This change is retroactive to Jan. 1, 2018.
  • The individual contribution limit did not change.
  • No other HSA limits (e.g., deductibles, out-of-pocket) or plan designs were impacted by the IRS change.
  •  Employers may want to :
    • Inform their HSA members of this change.
    • If the contribution limit is currently set at $6,900, lower the HSA family annual contribution limit to $6,850.
    • Adjust the amount that can be taken out for employees who have contributed and/or spent the limit.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: