IRS Announces Family Contribution Limit Change for HSAs
March 6, 2018 - On March 5, 2018 the IRS released Revenue Procedure 2018-18 in Internal Revenue Bulletin (IRB) 2018-10 , which provides new recalculated benefit plan limitations. Effective for calendar year 2018, the family contribution limit for HSAs has been lowered from $6900 to $6850.
What does this mean for you?-
HSA election changes may be required for calendar year 2018. In addition, for individuals who have already contributed the full family amount may require excess contributions be returned.
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The individual contribution limit for HSAs remains unchanged at $3450 for 2018.
Please contact your Flores dedicated Account Manager at (800) 532-3327 with questions related to your HSA account.
About Flores & Associates
Flores is a leading national administrator of tax advantaged consumer based reimbursement plans such as health and dependent care spending accounts (FSAs), health reimbursement arrangements (HRAs), health savings accounts (HSAs) and qualified transportation expenses (QTEs). Additionally, Flores handles COBRA administration and billing services for employers. Based in Charlotte, NC, Flores has emerged as the leader in this field through a service model founded upon innovative technology, dedicated professionals, and an uncompromising commitment to superior service.
Contact
To learn more about the services offered by Flores & Associates, existing clients may contact their dedicated account manager.
Brokers, potential clients, and media representatives may contact:
- Cindy Bistany
- Director of Business Development and Strategic Alliances
- (828) 693-3595
- cindy@flores-associates.com
- Clay Peddycord, GBA, CFC
- Director of Business Development and Strategic Alliances
- (800) 532-3327
- clay.peddycord@flores-associates.com
- Aaron Hunt, MBA, CDHC, HSAe, Certified COBRA Administrator
- Director of Business Development and Strategic Alliances
- (800) 532-3327
- aaron.hunt@flores-associates.com