<img height="1" width="1" style="display:none;" alt="" src="https://dc.ads.linkedin.com/collect/?pid=118459&amp;fmt=gif">
Show all

Alert! HSA Family Coverage Contribution Limit Changed... Again!

hsa contribution B.jpg

Last week, the IRS made another change to the 2018 family HSA (Health Savings Account) contribution limit. This change modifies their March 5th directive.

 

What is the new limit?

The IRS has increased the 2018 HSA contribution limit for individuals with family high deductible health plans (HDHP) coverage from $6,850 to $6,900. This change is effective for the 2018 calendar year.

 

Why was the limit changed?

In response to numerous stakeholder concerns, the Treasury Department and the IRS determined it was best to change the limit back again to the original allowed amount published in 2017.

 

Are other limits changing too?

No, all the other HSA and HDHP limits for 2018 are unchanged and remain the same as those announced by the IRS in May 2017.

 

What do I need to do?

Contact your HSA plan administrator if you have any questions about this change or the $50 refund your employees may have received.

Download our updated 2018 IRS Contribution Limits infosheet.

 

Download Infosheet Now

 

National Insurance Services is not a law firm and no opinion, suggestion, or recommendation of the firm or its employees shall constitute legal advice. Readers are advised to consult with their own attorney for a determination of their legal rights, responsibilities and liabilities, including the interpretation of any statute or regulation, or its application to the readers’ business activities.

IRS Releases FAQs for Paid Family & Medical Leave Employer Credit
May 01, 2018
IRS Announces Increases to HSA & HDHP Contributions for 2019
May 01, 2018
Erin Woulfe

Erin Woulfe

Erin Woulfe likes to write about things that matter. Keeping her finger on the pulse of what’s happening in the public sector world, she blogs about the latest legislative news and employee benefit trends that affect our school, city and county clients. She’s been with NIS since 2002. “I love connecting to our clients and providing them with the tools they need in order to administrate their plan,” says Erin. “Whether that be materials to educate their employees on certain benefits, how to effectively communicate change within an organization, or providing tips and how-to’s to help them make their job easier.”