“In this world nothing can said to be certain, except death and taxes.” — Benjamin Franklin

With the passage of new tax laws in December 2017, the United States Congress made changes for deductions and corporate tax rates, but they left the tax benefits that come from health savings accounts (HSAs) alone. More recently, the annual family contribution for 2018 was reduced (read more here).

HSAs are one of the most tax-advantaged programs allowed by the IRS. Since their creation in 2003, millions of people have taken advantage of the tax savings, healthcare and retirement benefits that come from having an HSA.

When it comes to your employees, HSAs offer three ways to save on taxes.¹ As an employer, you can also take advantage of tax savings. Here’s how:

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.

 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.

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

Health Savings accounts (HSAs) can be beneficial for employees as well as your company. Still, employees may have questions about these accounts (especially if you are offering it to them for the first time). The following are more answers to some common questions about HSAs:

 2018 has arrived, which means many people are making resolutions for the upcoming year. Goals usually include things like losing weight, making new friends or saving money. Some of these resolutions will end before much progress is made (is eating a lot of broccoli really worth it?!), but there are some resolutions you can make that will benefit you now and in the future, especially with an HSA! Here are a few suggestions for HSA resolutions for 2018: