IRS Decreases Some 2018 Limits

Due to the new tax reform law adjusting how annually indexed dollar amounts are calculated, on March 5, 2018, the Internal Revenue Service (IRS) released Revenue Procedure 2018-18 announcing that it has recalculated some of its previously-released 2018 limits for health saving accounts, Archer medical savings accounts, adoption assistance programs, and the small employer health insurance credit.

Of note, the maximum annual family Health Savings Account (HSA) contribution for 2018 was decreased by $50 to $6,850.

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