IRS HSA Contribution Update

As you are aware the IRS recently made a change to the Health Savings Account Family contribution limit for 2018. Reducing the family HDHP maximum from $6,900 to $6,850.

This week a revised update has been released. The Internal Revenue Service (IRS) announced that the maximum contribution to a health savings account (HSA) for family coverage under a high-deductible health plan has reverted to $6,900 for 2018 (Revenue Procedure 2018-27). This new decision reverses an announcement earlier this year that reduced the annual family contribution limit to $6,850. The updated ruling is intended to alleviate unanticipated administrative and financial burdens associated with the previous change. There are no other changes to annual limitations or requirements for calendar year 2018.

HSA Contributions can be changed throughout the year. Therefore, you can update your contribution to meet this new IRS Maximum.