The Internal Revenue Service has released the 2018 parameters for qualified high deductible health plans (HDHP) and health savings account (HSA) contributions. For the coming plan year, individuals with self-only HDHP coverage may deposit $3450 in an HSA. The deposit limit for families covered by an HDHP is $6,900.
For calendar year 2018, the IRS will consider an HDHP as HSA-qualified if it has an annual deductible of at least $1350 for self-only coverage and at least $2700 for family coverage. The annual out-of-pocket limit for a qualified HDHP plan may not exceed $6650 for self-only coverage and $13,300 for family coverage. Qualified HDHP plans will also have to meet long-standing rules relative to applying all costs except for preventive care to the annual deductible. For more information about the HSA Limits, use the link provided to hear more about the future of our healthcare. For any additional information, please contact the HIG team directly.