Benefits Buzz

IRS Releases 2018 HSA Limits

Posted on May 9th, 2017

The Internal Revenue Service (IRS) issued Revenue Procedure 2017-37 last week with information on the Health Savings Account (HSA) and qualified high-deductible health plan (HDHP) limits for 2018.

These limits are updated annually and reflect cost-of-living adjustments.

HSA contribution limits

  • 3,450 for individual coverage (increased $50 from 2017)
  • $6,900 for family coverage (increased $150 from 2017)

HSA catch-up contributions (age 55 or older)

  • $1,000 (no change from 2017)

Minimum deductible requirements for HSA eligibility:

  • $1,350 for self-only coverage (increased $50 from 2017)
  • $2,700 for family coverage (increased $100 from 2017)

Maximum out-of-pocket limitations for HSA eligibility:

  • $6,650 for individual coverage (increased $100 from 2017)
  • $13,300 for family coverage (increased $200 from 2017)

Flexible Benefit Service Corporation (Flex) is here to help. As a trusted benefits administrator of HSAs since their beginnings, we provide an easy way to manage eligible health care expenses – now and in retirement. Learn more about our HSAs now.

 

The materials contained within this communication are provided for informational purposes only and do not constitute legal or tax advice.

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