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IRS Adjusts HSA Contribution Limit, Other Thresholds for 2018

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The family contribution limit for a health savings account (HSA) for 2018 was reduced from $6,900 to $6,850 by the Internal Revenue Service (IRS), along with adjustments made to other IRS thresholds to reflect the recent tax legislation.

The Tax Cuts and Jobs Act signed in December (Pub. L. 115-97) changed the method for calculating annual inflation adjustments. Accordingly, in Revenue Procedure (Rev. Proc.) 2018-18, the IRS adjusted many of the dollar figures that apply in 2018, including the adoption credit and phaseout thresholds.

An individual with family coverage under an HSA-eligible high-deductible health plan (HDHP) may deduct up to

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