HR Alert

IRS Decreases 2018 HSA Contribution Limit for Certain Individuals

Contribution Limit for Individuals with HDHP Family Coverage Drops by $50

The Internal Revenue Service (IRS) has announced that the 2018 annual limitation on health savings account (HSA) contributions by individuals with family coverage under a high deductible health plan (HDHP) is now $6,850. This limit was previously announced as $6,900, but has been revised downward due to an inflation adjustment provision in the Tax Cuts and Jobs Act. The 2018 annual limitation on HSA contributions by an individual with self-only coverage under a HDHP remains unchanged at $3,450.

Click here to read the IRS announcement.


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