2018 HSA Guidelines & More

Posted by Phil Dougherty
October 26, 2017

The Treasury Department and Internal Revenue Service (IRS) issued the 2018 guidelines on the maximum contribution levels for Health Savings Accounts (HSAs), the minimum deductible amounts and the out-of-pocket maximum amounts.

The 2108 requirements are:

HSA Contribution Limits

  • Individual Contribution Limit: $3,450
  • Family Contribution Limit: $6,900

HSA Deductible Amounts

  • Individual Minimum Deductible: $1,350
  • Family Minimum Deductible: $2,700

HSA Out-of-Pocket (OOP) Amounts

  • Individual OOP Maximum: $6,650
  • Family OOP Maximum: $13,300

Please note: an individual or family plan that meets the deductible and out-of-pocket requirements, doesn’t necessarily qualify one to open an HSA. A plan designated as High Deductible Health Plan (HDHP) will meet these and other requirements necessary for HSA participation. Make sure your plan has HDHP included in its name and/or summary of benefits.

HDHP plans are available through the ACA (CoveredCA and private market) from many carriers and typically are found in the Bronze level of plans, a lower premium category. With rising premiums, HDHP plans coupled with a HSA account, may provide a more balanced long term health insurance solution.

For more information about HSA’s and how they work, visit our web page: http://www.onlyhealthinsurance.com/health-savings-accounts.html