Daily Archives: May 8, 2017

New HSA Deduction Limits Released for 2018

The IRS recently released the 2018 annual deduction limits for a Health Savings Account (HSA). Typically, these limits are adjusted each year for inflation. This is subject to any additional changes that become effective because of the proposed legislation modifying the Affordable Care Act.

The 2018 limits are $3,450 for an individual with self-only coverage and $6,900 for an individual with family coverage. Such deductible contributions can only be made to an HSA that is maintained in conjunction with a high-deductible health plan.

A high-deductible health plan is defined as a plan with an annual deductible of $1,350 or more for self-only …read more

Read more here:: Beyond The Numbers