2018 Inflation Adjusted Amounts for HSAs

Date: May 12, 2017
By: Basi Insurance
In: ,

Annual inflation amounts have been released for HSAs and high deductible health plans – all limits will increase for calendar year 2018.

Annual Contribution Limitation

For calendar year 2018, the deduction limits for an individual with coverage under a high deductible health plan is:

  • Self only – $3,450 (an increase from $3,400 in 2017).
  • Family coverage – $6,900 (an increase from $6,750 in 2017).

High Deductible Health Plan

For calendar year 2018, a “high deductible health plan” (HDHP) has an annual deductible not less than:

  • Self only – $1,350, with an annual out-of-pocket expenses (e.g. deductibles, co-payments, and other amounts, but not premiums) not exceeding $6,650 (an increase from $6,550 for 2017).
  • Family coverage – $2,700, with an annual out-of-pocket expenses (e.g. deductibles, co-payments, and other amounts, but not premiums) not exceeding $13,300 (an increase from $13,100 for 2017).

In cases where the HDHP renewal date is after January 1, 2018, any required changes to the annual deductible or out-of-pocket maximum may be implemented at the next renewal date.

Catch-Up Contribution

Individuals age 55 or older and covered by a qualified high deductible health plan can make additional catch-up contributions of $1,000 each year until they enroll in Medicare.

Recent Posts

We want you to know how to protect yourself, your family, and your businesses. Follow our blog for helpful tips, industry news, insight into current events, and more.

Doctor with patient

Covered CA Announces Big Changes for Coming Year – 2020

Covered CA Logo Another  year, another open enrollment for health insurance. Big changes expected to ...
Farm Equipment in field

Is your Labor Contractor an Employee?

The California Supreme Court has issued a major decision that dramatically restricts the ability of ...
lock and credit cards

Cyber Coverage – Why you absolutely need it!

WHY CYBER COVERAGE? 1 Cyber crime is the fastest growing crime in the world, but ...