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HSA Limits: What’s Changed This Year & What’s Next?

                                    2018                                   

On April 26, 2018, the IRS reverted the 2018 Health Savings Account (HSA) limits back to the originally published amounts released in May of 2017.
 

The current rates are: $3,450 for individuals with self only coverage; and $6,900 for family coverage.
 

After reducing the limits in March of 2018, the IRS reinstated the higher annual limit in April stating, "... It is in the best interest of sound and efficient tax administration to allow taxpayers to treat the $6,900 annual limitation originally published in Rev. Proc. 2017-37 as the 2018 inflation adjusted limitation on HSA contributions for eligible individuals with family coverage under an HDHP." (Rev. Proc. 2018-27).
 

Timeline of 2018 limit changes:

 

 

                                    2019                                   


On May 10, 2018, the IRS released Revenue Procedure 2018-30, which provided the HSA limits for the calendar year of 2019.
 

The 2019 rates are: $3,500 for individuals with self only coverage; and $7,000 for family coverage.
 

Other 2019 changeHDHP maximum out-of-pocket limits have increased to: $6,750 for self-only coverage and $13,300 for family coverage.
 



 Additional Information:

For more information on HSA limits for 2018 and 2019, or to find additional information regarding Health Savings Accounts, please visit the IRS website by clicking here.
 


                              
Sources Cited:



Disclaimer:  These materials are provided for informational purposes only and are not intended as legal or tax advice.  Readers of the IBS Blog should contact their legal or tax professionals to discuss how these matters relate to their individual circumstances.

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