IRS Increases HSA Contribution Limit To Track Previous Level

IRS announced last week it has increased the contribution maximum for “family” health savings accounts (HSAs) in 2018 to $6,900 to align with previously announced levels, after briefly lowering it to $6,850 due to changes made under the GOP tax bill. “Although only a $50 reduction, the change presented significant difficulties to employers who had communicated the $6,900 limit to employees and built that higher limit into their plans and payroll systems. In announcing the relief, the IRS recognized the...