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Do You Have an HSA? What you need to know about the 2018 limits

Posted by Zinner & Co. on Jun 21, 2017 6:03:00 PM
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The 2018 health savings account (HSA) guidelines were recently released by the Internal Revenue Service (IRS). These guidelines outline the inflation-adjusted contribution, deductible, and out-of-pocket spending limits for Health Savings Accounts (HSAs) and high-deductible health plans (HDHPs) for calendar year 2018. Cleveland CPAs help with HSA and budget planning.jpeg

2018 HSA Overview

    • Minimum deductible:
      • Compliant HSA plan examples:

        • One plan for self-only and family with an embedded deductible, the minimum deductibles are: $2,700 individual and $2,700 family 

        • One plan for self-only and family with a non-embedded deductible, the minimum deductibles are: $1,350 individual and $2,700 family  

        • $1,350 for self-only coverage (versus $1,300 in 2017)

        • $2,700 for family coverage (versus $2,600 in 2017)

        • $2,700 for embedded individual deductible (versus $2,600 in 2017) 

      • Out-of-pocket maximum: 
        • $6,650 for self-only coverage (versus $6,550 in 2017)

        • $13,300 for family coverage  (versus $13,100 in 2017)

        • $6,650 for embedded individual out-of-pocket maximum (versus $6,550 in 2017)

        • Compliant HSA/ACA plan examples:

          • One plan for self-only and families with an embedded out-of-pocket maximum, the maximum amounts are: $6,650 individual and $13,300 family
          • One plan for self-only and family with a non-embedded deductible, the maximum amounts are: $6,650 individual and $7,350 family

      • Watch for the intersection of the HSA and Affordable Care Act (ACA) rules. The 2018 ACA maximum is $7,350 for individual and $14,700 family (versus $7,150 individual and $14,300 family in 2017). 

  •  HSA contribution limits:
    • $3,450 for self-only coverage (versus $3,400 in 2017)  
    • $6,900 for family coverage (versus $6,750 in 2017)
    • The annual “catch-up” contribution amount for individuals age 55 or older will remain $1,000.

If you have questions about this article or if you are a business owner in need of management advice, contact us at info@zinnerco.com or 216.831.0733. We're happy to help and ready to start the conversation. 

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Topics: HSA, Taxes - Planning, Rules and Returns, Taxes - Individual

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