Updated Family HSA Contributions Limits

During Open Enrollment last year, monthly HSA contribution maximums were calculated based on the IRS limit of $6,900.  However, in March the IRS decided to reduce their allowable limit by $50.  This may seem like a small change, but exceeding that limit would come with a tax penalty.  So, we updated our forms and Solomon pages and set to determining the best process to prevent these overages, while hoping that this decision by the IRS would not stick.  

At the end of last month, the IRS reversed this $50 decrease due to the many administrative difficulties that this change would place on employers.  The annual family HSA contribution limit of $6,900 has been reinstated for 2018.  

This $50 change should only affect those who calculated their family's HSA monthly contributions using the decreased maximum amount of $6,850 and submitted a cafeteria plan form to maximize their contributions based on that new limit.  If you think this scenario applies to you and you would like to change your monthly HSA contributions to ensure you maximize the full $6,900 limit, you can do so by submitting an updated Cafeteria Form, which can be found on this page: Cafeteria Plan Enrollment Form - 2018.