IRS Reduces HSA Limit for Family Coverage for 2018

Matt Pfeiffenberger Large Group Benefits (100+), News

The IRS issued a new revenue procedure regarding health savings account (HSA) limits. The new tax laws had a provision in it which was not formally enacted until just recently. The new revenue procedure now puts the change into effect. Basically the ruling reduces the HSA family maximum contribution for 2018 from $6,900 to $6,850 retroactive to January 1, 2018. Employers with HSAs will need to check to see if employees elected the $6,900 maximum for 2018, and in effect cut that back to $6,850. The new $6,850 max is a combination of any employee and employer contributions into the employee’s HSA for 2018.¬†You can read more about the change below. Questons can be directed to Matt Pfeiffenberger, Vice President, …