In a surprising move, the IRS reversed its March 5, 2018 decision to decrease the maximum family HSA contribution by $50. On April 26, 2018 the IRS released Revenue Procedure 2018-27 which restored the maximum family HSA contribution to $6,900.
This is welcome news to those who have not made any changes to contribution limits, or those who had not already contributed the maximum amount. Those individuals who contributed the maximum prior to the March 5 announcement, and subsequently withdrew the excess $50, will need to work with their HSA bank to correct the issue.
Like the previous announcement, the individual HSA maximum, and health flexible spending account, and dependent care account limits remain unchanged.
The chart below reflects the revised contribution limits for 2018.
|Maximum HSA Annual Contribution|
|Catch-up for age 55 and older||$1,000|
Should you have additional questions, please contact your Account Executive, Client Advocate, or our Compliance Manager.