viewBox="0 0 179.32 169.39">FloresMark

IRS Announces Second Change to 2018 HSA Family Contribution Limits

April 27, 2018 - The IRS has now released Revenue Procedure 2018-27 Rev. Proc. 2018-27, which provides guidance allowing taxpayers to treat $6,900 as the annual limitation for contributions to Health Savings Accounts (HSAs) for individuals with family coverage under an HDHP. This reverses the administrative burdens created under the March 5, 2018 release of Revenue Procedure 2018-18, which recalculated the family contribution limit for HSAs from $6900 to $6850.

What does this mean for you?

  • HSA election changes may no longer be required for calendar year 2018. In addition, for individuals who had excess contributions returned, they may wish to take advantage of the original family maximum of $6900.

  • The individual contribution limit for HSAs remains unchanged at $3450 for 2018.

Please contact your Flores dedicated account manager at (800) 532-3327 with questions related to your HSA account.

About Flores

Flores is a leading national administrator of tax advantaged consumer based reimbursement plans such as health and dependent care spending accounts (FSAs), health reimbursement arrangements (HRAs), health savings accounts (HSAs) and qualified transportation expenses (QTEs). Additionally, Flores handles COBRA administration and billing services for employers. Based in Charlotte, NC, Flores has emerged as the leader in this field through a service model founded upon innovative technology, dedicated professionals, and an uncompromising commitment to superior service.

Contact

To learn more about the services offered by Flores, existing clients may contact their dedicated account manager.
Brokers, potential clients, and media representatives may contact:

Share this Post
follow us