The IRS announced an increase to the maximum HSA family contribution for the 2018 calendar year in Revenue Procedure 2018-27.
The family contribution limit for HSAs has been raised from$6,850 to $6,900.
This mid-year increase comes shortly after the IRS lowered the HSA maximum in March to $6,850 as part of Tax Reform and Jobs Act (P.L. 115-97).
Flexible Spending Accounts (Health Care FSAs, Dependent Care FSAs, Parking and Transit plans) were not affected.
Baker Tilly Vantagen is preparing to support our partners with this change. As a first step, our myFlexDollars portal was updated on April 30, 2018 to reflect the new maximum contribution limit.
If you have any questions regarding this announcement or to learn how Baker Tilly Vantagen experts can help, contact our team.