06 Mar

Truss Alert: IRS Announces Changes to 2018 HSA Family Contribution Limits:

On Monday, March 5, 2018 the IRS announced that the previously released maximum family contribution limit for a Health Savings Account is reduced from $6,900 to $6,850 in 2018. This change is effective immediately, and any family contribution to an HSA exceeding the $6,850 could be subject to taxes and penalties.

This HSA contribution change is a result of a provision in H.R. 1 (“Tax Reform”) that changed the way inflation-related increases are calculated from the Consumer Price Index (CPI) to the new factor known as “chained CPI.”

For more information, please see the IRS Bulletin No. 2018-10.

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