IRS Decreases 2018 HSA Contribution Limit for Certain Individuals
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.
Be sure to check out our section on Health Savings Accounts for more on HSAs.
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