2018 HSA inflation adjustments!

5/17/2017

The 2018 inflation adjusted amounts for Health Savings Accounts (HSAs), are as follows:

The limitation on deductions for an individual with self-only coverage under a high deductible health plan (HDHP) has increased by $50 from 2017 to $3,450; and by $250 to $6,900 for family coverage.

To be considered an HDHP for 2018, the annual deductible needs to be $1,350 ( an increase of $50 from 2017) or more for self-only coverage or $2,700. ( a $100 increase from 2017 rates) or more for family coverage.

The annual out-of-pocket expenses (deductibles, co-payments and other amounts, but not premiums) cannot exceed $6,650 ( decease by $100 from 2017 rates) for self-only coverage or $13,300 ( a decrease by $300 from 2017 rates) for family coverage.

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Spencer Accounting Group, LLC does not provide investment, tax, legal, or retirement advice or recommendations in these blogs. The information presented here is not specific to any individual's personal circumstances.

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Keana Spencer is an Accountant, Entrepreneur, and Educator to her clients, with a strong passion. Keana has over 10 years of experience and through her practice, she is a source of knowledge and strategies to her clients.

Keana founded this website and decided and created this blog page to offer a space for those seeking knowledge to understand, however not to be confused with advice or planning strategies.

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