HSA Limit Decreased for Families
The family contribution maximum is being adjusted downward to $6,850 (from the previously announced limit of $6,900). This change may affect current and future contributions to HSAs. Please make any necessary adjustments to future contributions to accommodate the change. If you have already fully contributed for 2018, you may need to initiate an excess contribution removal.
The IRS initially released the 2018 cost-of-living adjustments for Health Savings Accounts (HSAs) in May 2017. However, the passing of the Tax Reform Bill led to a recalculation of the limits. HSAs are subject to annual adjustments. HSA limits consist of the contribution limits, minimum deductible requirements and maximum out-of-pocket limits.
2018 HSA Contribution Limits:
The HSA limits for contributions are set to increase in 2018. Individuals age 55 or older can continue to make an additional $1,000 catch-up contribution.
Individual: $3,450 (up from $3,400 in 2017)
Family: $6,850 (up from $6,750 in 2017)