April 26, 2018
Today (April 26, 2018), the Internal Revenue Service (IRS) released Revenue Procedure 2018-27, reversing the reduced the family coverage contribution limit for health savings accounts (HSAs) that was announced under Revenue Procedure 2018-18 last month.
This Revenue Procedure modifies the 2018 calendar year HSA contribution limit for individuals with family coverage under a high deductible health plan (HDHP) from $6,850, back to the originally announced 2018 limit of $6,900.
In early March, the 2018 HSA annual contribution limit for family coverage had been revised downward by $50 to $6,850 as a result of the change in the inflation adjustment calculations for 2018 under the Tax Cuts and Jobs Act. The IRS' other HSA and HDHP limits for 2018 remained the same.
Revenue Procedure 2018-27 can be found at www.irs.gov/pub/irs-drop/rp-18-27.pdf.
For additional information, please contact your Burnham Benefits Consultant or Burnham Benefits at 949-833-2983 or email@example.com.
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