At Work

Your allowable HSA contribution has gone DOWN for 2018

A $50 change in the annual contribution limit for health savings accounts could end up costing employers and workers money if the IRS doesn’t come up with a quick fix, employer groups told Bloomberg Law.

The maximum contribution level of $6,900 for families in 2018 was reduced by the IRS to $6,850 in early March. The change was made because the Tax Cuts and Jobs Act required a move to the chained consumer price index to calculate inflation. Bloomberg Law

There is no reduction for single coverage. Employees who selected the initial maxiumum must reduce their contribution.

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