Last week, the IRS released Revenue Procedure 2017-37
, which provides information on the limits for Health Savings Accounts (HSAs) for 2018. The annual contribution limitation on deductions for individuals with self-only coverage under a high deductible health plan will be $3,450. The deduction limitation for an individual with family coverage will be $6,900.
Minimum Deductible for HDHP
: In order for a health insurance plan to be considered a “High Deductible Health Plan” for 2018, the deductible must be at least $1,350 for self-only coverage and $2,700 for family coverage.
Out-of-pocket expenses may not exceed $6,650 for self-only coverage and $13,300 for family coverage.
These changes will go into effect for calendar year 2018.
Please note that these limits are subject to change. The American Health Care Act, if passed, includes changes related to Health Savings Account Limits. Read more.