IRS Announces Updated HSA Contribution Limits
IRS Releases Update on Annual HSA Family Contributions
The IRS recently published Rev. Proc. 2018-27, which modifies the annual limitation on HSA contributions for those with family coverage under an HDHP. The limit for 2018 is $6,900.
Rev. Proc. 2018-27 reverses the $50 contribution limit reduction that was announced March 2, 2018, under Rev. Proc. 2018-18:
“In response to Rev. Proc. 2018-18, stakeholders informed the Treasury Department and the IRS that implementing the $50 reduction to the limitation on deductions for individuals with family coverage would impose numerous unanticipated administrative and financial burdens…The Treasury Department and the IRS have determined that 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.”