2018 HSA Contribution Limits

IRS Announces 2018 HSA Contribution Limits

2018 HSA Contribution LimitsIRS has released 2018 HSA limits, raising maximum out-of-pocket expenses and contribution limits.

On Thursday, May 4, the Internal Revenue Service (IRS) released the 2018 inflation-adjusted amounts for Health Savings Accounts (HSAs). Contribution limits, minimum deductibles, and the maximum for out-of-pocket expenses all go up next calendar year.

2018 HSA Contribution Limits

Starting January 1, 2018, annual maximum contribution levels will rise for both individual and family coverage. Account holders with individual coverage will be able to contribute $3,450, a $50 increase from 2017. Those with family coverage may contribute up to $6,900, a $150 increase from 2017.

Minimum Deductible for HDHPs

The IRS also raised the minimum deductible for qualified high deductible health plans (HDHPs). This is the first time since 2015 that the minimum deductible will go up.

In 2018, the individual coverage minimum deductible is $1,350, up $50; the family coverage minimum deductible goes up to $2,700, a $100 increase.

Maximum for Out-of-Pocket Expenses

The maximum limit for out-of-pocket expenses is going up in 2018, as well. The last increase was in 2016.

Next year, those with individual coverage will have a $6,650 limit, a $100 increase. Account holders with family coverage see a $200 increase to $13,300.

Catch Up Contributions

The 2018 catch up contribution limit remains the same, at $1,000, for those 55 years of age and older.

 

2018 HSA Contribution Limits/Minimum Deductible/Out-of-Pocket Expenses

20172018
Contribution LimitsIndividual: $3,400

Family: $6,750

Individual: $3,450

Family: $6,900

Minimum Deductible for HDHPsIndividual: $1,300

Family: $2,600

Individual: $1,350

Family: $2,700

Maximum Out-of-Pocket ExpensesIndividual: $6,550

Family: $13,100

Individual: $6,650

Family: $13,300

 

 

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