The annual contribution limits for health savings accounts (HSAs) are going up in 2018, the Internal Revenue Service (IRS) announced May 4. The minimum deductibles and maximum out-of-pocket limits for an HSA-eligible high-deductible health plan (HDHP) also will be increased for inflation, according to Revenue Procedure 2017-37.
For self-only plans, the contribution limit (employer + employee) for calendar year 2018 is $3,450; this represents a $50 increase over the 2017 limit. For family plans, the 2018 limit is $6,900, a $150 increase from 2017.
For 2018, the IRS is defining an HDHP as one with an annual deductible of not less than $1,350 for self-only coverage or $2,700 for family coverage (compared to $1,300 and $2,600, respectively, for 2017). Annual out-of-pocket expenses (deductibles, copayments, and other amounts not including premiums) for 2018 cannot exceed $6,650 for self-only coverage or $13,300 for family coverage (versus $6,550 and $13,300).
Note that the 2018 out-of-pocket limits are different for Affordable Care Act compliance, at $7,350 for self-only plans and $14,700 for family plans, as indicated in the U.S. Department of Health and Human Services’ “Notice of Benefit and Payment Parameters” rule (81 Fed. Reg. 94058, Dec. 22, 2016).