News, DPC Business Insight, Patient & Physician Edu. | t: (770) 455-1650 | editor@directprimarycare.com

IRS and HSAs | SECTION 4. 2018 INFLATION ADJUSTED AMOUNTS FOR HEALTH SAVINGS ACCOUNTS UNDER § 223

“For all those hoping HSA’s get expanded, looks like the government is moving in the opposite direction. On March 5, 2018, the IRS released Revenue Procedure 2018-18 (as part of Bulletin 2018-10). Due to changes made in the Tax Cuts and Jobs Act, certain adjustments needed to be made to inflation amounts. This includes a reduction in the maximum family HSA contribution for those with family coverage under an HDHP from $6,900 to a new limit of $6,850 for calendar year 2018. The single contribution limit remains unchanged at $3,450 per year. This reduction affects employees participating in an HSA Plan who have elected to contribute more than $6,850 for family coverage in 2018.” ~D.C., Employee Healthcare Strategist; March 7, 2018

Revenue Procedure 2018-18

New Book Now Available For A LIMITED TIME … What Every Accountholder, Employer, and Benefits Consultant Needs to Know about Health Savings Accounts—and How to Use Them Strategically
| by Todd Berkley — updated last Fall for the new 2016 limits and slight changes such as VA eligibilty and same sex marriage changes.

SECTION 4. 2018 INFLATION ADJUSTED AMOUNTS FOR HEALTH SAVINGS ACCOUNTS UNDER § 223

RELATED STORY

EP. 118 | Direct Primary Care (DPC) 2018 Legislative Happenings Overview | Run Time: 31:35 | By The DPC Journal

MARCH 5, 2018 – Annual contribution limitation. For calendar year 2018, the annual limitation on deductions under § 223(b)(2)(A) for an individual with self-only coverage under a high deductible health plan is $3,450. For calendar year 2018, the annual limitation on deductions under § 223(b)(2)(B) for an individual with family coverage under a high deductible health plan is $6,850.

High deductible health plan. For calendar year 2018, a “high deductible health plan” is defined under § 223(c)(2)(A) as a health plan with an annual deductible that is not less than $1,350 for self-only coverage or $2,700 for family coverage, and the annual out-of-pocket expenses (deductibles, co-payments, and other amounts, but not premiums) do not exceed $6,650 for self-only coverage or $13,300 for family coverage.

RELATED STORY

“Mr. HSA” Projects 2019 HSA Amounts ~Roy Ramthun

“Main problem I see with this proposed legislation is that there is no provision for HSA use to cover the cost of membership to Direct Primary Care or Concierge medical practices.” ~J.C.; March 7, 2018; LinkedIn Comment

READ MORE …

SOURCE: https://www.irs.gov/irb/2018-10_IRB

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s

DPC Journal Edu. Author’s Corner | Download …

DPC Journal | Job Board

Insights | Analysis | Latest Trends

(C) 2016, 2017, 2018 | The DPC Journal

Scalability & Startup In DPC

(C) 2017 | The Direct Primary Care Journal - All Rights Reserved. Click to enlarge ...

FOR DPC | Unique Offer For DPC Journal Readers in 2018

The DPC Journal Strategic Partnership with Unique Pediatric & Family Medicine/Ortho. -- “Invented by a mom who spent enough hours in the pediatrician’s office to know that keeping kids calm and occupied would make doctor’s visits easier on everyone …”

Free Shipping, New Bundle!

Different Opinions | Insights | Analysis | Trends

(c) 2017 The Direct Primary Care Journal (The DPC Journal)

Join 2,757 other followers

Popular Audio Downloads | Podcasts

Click here to listen to DPC Podcast, Innovations in the Delivery of Medicine and More Interviews ...

Insights | Analysis | Latest Trends

© 2017 The DPC Journal

%d bloggers like this: