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IRS Updates Health Savings Account Family Contribution Limit for 2018 – Back to $6,900

IRS Updates Family Maximum HSA Contribution Limits for 2018 AgainOn April 26, 2018, the IRS issued an announcement that impacts the maximum family contribution to a Health Savings Account (HSA).

For 2018, taxpayers with family coverage under a high-deductible health plan (HDHP) may treat $6,900 as the maximum deductible HSA contribution.

As you may recall:

  • The IRS initially announced in May 2017 that $6,900 would be the maximum contribution for 2018
  • However, as a result of the new tax law, this number was lowered to $6,850 in March 2018.
  • But as a result of the announcement on April 26, 2018, the limit for 2018 is once again $6,900.

Many organizations updated benefit communication materials and benefits enrollment/HRIS systems back in March to reflect the $6,850 limit. Thus, additional changes may be needed once again, to allow employees to contribute up to $6,900.

I hope that you find this information helpful. If you have any questions, please contact a member of our team at 781-759-1222.

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Posted in: Benefits and Insurance, Human Resources, Legislation

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