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IRS Adjusts 2018 HSA Contribution Limit- Again


As if doing it once wasn't enough, the IRS has come back and adjusted the limit. The IRS has announced it is modifying the annual limitation on deductions for contributions to a health savings account ("HSA") allowed for taxpayers with family coverage under a high deductible health plan ("HDHP") for the 2018 calendar year. Under Rev. Proc. 2018-27, taxpayers will be allowed to treat $6,900 as the annual limitation, rather than the $6,850 limitation announced in Rev. Proc. 2018-18 earlier this year.

The HSA contribution limit for individuals with family HDHP plan coverage was originally issued as $6,900 last May in Rev. Proc. 2017-37. Earlier this year, the IRS announced a $50 reduction in the maximum deductible amount from $6,900 to $6,850 due to changes made by the Tax Cuts and Jobs Act.


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