AS OF APRIL 26, 2018:
For 2018, taxpayers with family coverage under an HDHP may treat $6,900 as the maximum deductible HSA contribution. A change in the inflation adjustment calculations for 2018 under the Tax Cuts and Jobs Act, reduced the maximum deductible HSA contribution for taxpayers with family coverage under an HDHP by $50, to $6,850. However, Revenue Procedure 2018-27 announces this relief for affected taxpayers and allows the $6,900 limitation to remain in effect for 2018.
If you already adjusted the $50 decrease to family HSA constitutions in March, you should increase the $50 to allow families to contribute up to the full $6,900 this year.
FROM MARCH 2018:
In March 2018, the IRS released Revenue Procedure 2018-10, which, for some tax-related formulas, adjusted the annual inflation factor from the Consumer Price Index (CPI) to a new factor called a “chained CPI.” This is retroactively effective to January 1, 2018.
As a result of the change, the 2018 family contribution limit for health savings account (HSA) contributions is lowered to $6,850 from $6,900.The self-only limit for HSA contributors remains unchanged at $3,450.
Individuals with family coverage who planned to contribute to the full family amount should decrease their contributions going forward.