HealthEquity blog

Updated April 26, 2018: IRS adjusts HSA contribution limit for family plans

Posted by HealthEquity on Mar 8, 2018 10:59:36 AM

UPDATE: On April 26, 2018, the IRS reversed their guidance and restored the maximum annual contribution limit for a family HSA to $6,900 for taxpayers with qualifying coverage. Accountholders wishing to make the maximum annual contribution, and who have adjusted their current contributions based on the lower limit, may now adjust their contributions as needed.


On March 5, 2018 the IRS announced that the maximum annual HSA contribution limit for an individual with family coverage in 2018 has been lowered from $6,900 to $6,850. The maximum annual HSA contribution limit for an individual with self-only coverage remains at $3,450. There is also a $1,000 catch-up contribution available to individuals who will be at least 55 years old during 2018.

There is a possibility that this change could be reversed and/or amended. HealthEquity will be following future developments and updating this blog post with more information as it becomes available.

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Topics: HSA, HSA investing, HSA questions, HSA fees

5 more answers to top HSA questions

Posted by HealthEquity on Feb 20, 2018 12:13:12 PM

 Note: A previous blog post discussed answers to the top 10 HSA questions. We will continue to bring you answers to top HSA questions.

This post is part of our ongoing series of articles related to the top questions about HSAs. The following questions are popular questions about using an HSA to save.



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Topics: HSA, HSA investing, HSA questions, HSA fees

4 ways to 'work the system' with an HSA

Posted by HealthEquity on Feb 12, 2018 5:42:15 PM

An HSA is a great complement to a high-deductible health plan, especially when factoring in tax savings and other advantages. In addition, savvy users can take advantage of some creative ways to maximize HSA benefits even more through these easy-to-follow tips:

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Topics: HSA, tax savings, HSA questions

Why Americans can't afford NOT to have an HSA

Posted by HealthEquity on Jan 29, 2018 11:55:00 PM

why americans cant afford not to have an hsaTo those who don’t quite understand how HSA-qualified plans work, a high deductible seems daunting. Many may say that they can’t afford the high-deductible and so they select a traditional plan and pay the significantly higher premiums typically associated with it.

Because HSA-qualified health plans have higher deductibles, the burden of upfront medical costs is more immediately apparent to those who have this type of coverage.  The plans usually have smaller monthly premiums, but the trade-off is more out-of-pocket expenses before insurance kicks in. While at first, this may be perceived as a negative, knowing you’re on the hook for more of your medical bills may actually push you to find smarter ways to put your HSA dollars to work and save.

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Topics: HSA, Benefit planning, Cost management, Employers, tax savings, HSA contributions

Create valuable incentives with HSA matching

Posted by HealthEquity on Jan 22, 2018 11:23:00 PM

No one wants to leave free money on the table. That’s why incentivizing employees with an HSA match can be an effective strategy to increase use and satisfaction of an HSA-qualified health plan. To best maximize the value of your matching program, keep the following ideas in mind:

 

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Topics: HSA, Benefit planning, Cost management, Employers, tax savings, HSA contributions

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