Effective for calendar year 2018, the family contribution limit for HSAs has been lowered to $6,850 from the previously set amount of $6,900. We are in the process of updating our Plan Sponsor and Employee Portals and Mobile App with the new limits. The $1000 ‘catch up’ contribution limit has not changed
This change came as a result of the tax reform law (P.L. 115-97) that changed the annual inflation adjustment factor from the Consumer Price Index (CPI) to a new factor known as ‘chained CPI’. This change was anticipated to slow the rate of changes in all programs under the tax code, including HSAs.
Please communicate this change to your employees, and should you need assistance identifying anyone affected by this change, please reach out to your Plan Administrator.
