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Much Ado about $50… IRS Announces Relief for Reduction of Maximum HSA Contributions

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On April 3, we blogged about a reduction in the HSA contribution limit for family coverage in 2018 from $6,900 to $6,850.  This was a technical change resulting from the Tax Cuts and Jobs Act that adjusted the method for calculating inflation.  On April 26, in Revenue Procedure 2018-27, the IRS came through with a fix for this $50 technical issue.  For 2018, taxpayers with family coverage under a high deductible health plan (HDHP) may treat $6,900 as the maximum deductible HSA contribution.