In March, due to the new inflation-adjustment calculations required under the Tax Cuts and Jobs Bill Act, the IRS announced in revenue ruling 2018-27 that the previously released (in May 2017) $6,900 family contribution limit would be reduced to $6,850. Since excess contributions are subject to a 6% excise tax, many employers and individuals who [...]

The IRS has released the inflation-adjusted contribution and related amounts for health savings accounts (HSAs) and HSA-compatible high-deductible health plans, or HDHPs, for 2018. These limits are tied to changes in the Consumer Price Index by application of the cost-of-living adjustment rules. The limits for 2018 are set forth below. 2018 HSA Limits Annual HSA [...]