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On Monday, March 5, the Internal Revenue Service (IRS) issued IRS Bulletin (2018-10), changing the Health Savings Account (HSA) 2018 family contribution limit to $6,850.
- The original 2018 limit had been set for $6,900 and is now reduced by $50.
- This change is retroactive to Jan. 1, 2018.
- The individual contribution limit did not change.
- No other HSA limits (e.g., deductibles, out-of-pocket) or plan designs were impacted by the IRS change.
- Employers may want to :
- Inform their HSA members of this change.
- If the contribution limit is currently set at $6,900, lower the HSA family annual contribution limit to $6,850.
- Adjust the amount that can be taken out for employees who have contributed and/or spent the limit.