Most recent posts

  XML Feeds

Search

« Colorful Food, Colorful LifeMedBen ERISA Disability Claims Document Available for Download »

2018 Family HSA Contribution Maximum Reduced

03/09/18

2018 Family HSA Contribution Maximum Reduced

IRS building

Due to a change in cost-of-living increases as calculated under last year's tax reform bill, the IRS has released new recalculated maximums for family health savings account (HSA) contributions for 2018. This year's previously announced family HSA limit of $6,900 has been reduced to $6,850.

For plans that offer an HSA option in conjunction with a high-deductible health plan, this announcement means that family HSAs with a stated $6,900 limit will need to be lowered to the new $6,850 maximum -- and by extension, that member election changes may be required. Additionally, excess contributions may need to be returned to those members who have already contributed the full family amount.

Please note that the 2018 individual HSA maximum contribution remains unchanged at $3,450. Also, benefit maximums for flexible spending accounts (FSAs) and health reimbursement arrangements (HRAs) were not affected by the IRS recalculations.

MedBen clients with questions regarding this change may contact Director of Administrative Services Sharon A. Mills at (800) 423-3151, Ext. 438 or smills@medben.com.

No feedback yet