HSA Limits Set to Rise in 2018.
The Internal Revenue Service (IRS) recently released the Health Savings Account or HSA limits to take effect January 1, 2018.
The changes are outlined in the table below compared to the 2017 HSA limits.
| 2018 v. 2017 HSA Contribution and Out-of-Pocket Limits for Health Savings Accounts and High Deductible Health Plans | ||
| 2018 | 2017 | |
| HSA limit (employer & employee contribution combined) | Individual: $3,450 Family: $6,900 | Individual: $3,400 Family: $6,750 |
| High Deductible Health Plan minimum deductibles | Individual: $1,350 Family: $2,700 | Individual: $1,300 Family: $2,600 |
| High Deductible Health Plan max out-of-pocket | Individual: $6,650 Family: $13,300 | Individual: $6,550 Family: $13,100 |
Here is a link to the IRS ruling.
In order for you to take advantage of an HSA, your plan must be a High Deductible Health Plan and the deductible must apply to all covered health services except preventative services. Also, the out-of-pocket maximum cannot be higher than the IRS designated amount. You should always consult your HR or Benefits departments with any questions on HSA limits or other High Deductible Health Plan details.
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