The IRS recently released Revenue Procedure 2017-37, which provides information on the limits for Health Savings Accounts (HSAs) for 2018. The annual contribution limitation on deductions for individuals with self-only coverage under a high deductible health plan will be $3,450. The deduction limitation for an individual with family coverage will be $6,900. Please note, these limits […]
A growing number of Americans are paying lower health insurance premiums in exchange for high deductibles, taking a gamble that saving money now won’t put them in a tough financial situation if they’re hit with high medical bills. As we enter open enrollment season, it’s important to at least consider these low-premium plans to determine […]
The IRS released increases for HSAs and high-deductible health plans (HDHPs) for 2015. The maximum annual HSA contribution for self-only HDHP coverage will increase from $3,300 to $3,350. The maximum annual HSA contribution for family HDHP coverage will increase from $6,550 to $6,650. The age 55 catch-up contribution continues to be $1,000 The minimum HDHP […]