Announcing changes to family Health Savings Account deduction goal
by Michelle Saport |
Some benefit limits such as the HSA contribution limits are adjusted annually based on changes in certain inflation indices. The recent federal tax reform law changed the index used to calculate the HSA limit, forcing the IRS to adjust the already announced limits even though the 2018 calendar year had already begun.
The maximum contribution for a person enrolled in the family HSA plan has been reduced to $6,850 (formerly $6,900). If you received an email because you are enrolled in the family HSA with the original maximum limit of $6,900 (or $7,900 if age 55 or older), your plan will be adjusted to reflect the new limit of $6,850 (or $7,850 if age 55 or older). This will be a system-initiated action. You do not need to do anything, this message is to keep you informed of what is happening and why.
The individual HSA limit is unchanged at $3,450.
If you have any questions about this change, please contact your local HR office.
"Announcing changes to family Health Savings Account deduction goal" is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.