The Internal Revenue Service (IRS) announced the 2018 inflation adjusted amounts for Health Savings Accounts (HSA), which include annual HSA contribution limitations and minimum required deductible amounts for qualified High Deductible Health Plans (HDHP). Maximum Out Of Pocket (MOOP) amounts are also changing. These changes are effective January 1, 2018.
As a reminder for 2018, the Internal Revenue Services (IRS) defines a high deductible health plan under § 223(c)(2)(A) as a health plan with an annual deductible not less than $1,350 for self-only coverage or $2,700 for family coverage. The plan must also have annual out-of-pocket expenses (deductibles, copayments, coinsurance and other amounts, but not premiums) that do not exceed $6,650 for self-only coverage or $13,300 for family coverage.
