Tax Law Blog

IRS Announces 2018 HSA Contribution Limits, Out-of-Pocket Maximums and HDHP Minimum Deductibles

The Internal Revenue Service recently released the 2018 cost-of-living adjusted amounts related to health savings account (“HSA”) contribution limits, out-of-pocket maximums and high deductible health plan (“HDHP”) deductibles. Each of the cost-of-living adjusted amounts is set forth below.

HSA Contribution Limits. The 2018 annual HSA contribution limit for an individual with self-only HDHP coverage is $3,450, increasing $50 from 2017. The 2018 annual HSA contribution limit for an individual with family HDHP coverage is $6,900, increasing $150 from 2017.

HDHP Minimum Annual Deductibles. The 2018 HDHP minimum annual deductible for an individual with self-only coverage is $1,350, and the minimum annual deductible for an individual with family HDHP coverage is $2,700.  The HDHP minimum annual deductible amounts have increased by $50 for self-only coverage and by $100 for family coverage from 2017.

HDHP Out-of-Pocket Maximums. The 2018 HDHP out-of-pocket maximum for an individual with self-only coverage is $6,550, which remains unchanged from 2017. The out-of-pocket maximum for an individual with family coverage is $13,300, a $200 increase since 2017.

Please contact your Foster Swift employee benefits professional if you have any questions concerning the foregoing.

Categories: Employee Benefits, Tax