IRS offers relief to taxpayers with family HSAs

May 9th, 2018
IRS offers relief to taxpayers with family HSAs

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Source: www.accountingtoday.com

The Internal Revenue Service is granting relief to taxpayers who have family coverage under a high deductible health plan and who contribute to a health savings account.

For 2018, taxpayers with family coverage under a high deductible health plan, or HDHP, can treat $6,900 as the maximum deductible contribution to their HSA.

A change in the inflation adjustment calculations for 2018 under the new tax reform law, the Tax Cuts and Jobs Act, decreased the maximum deductible HSA contribution for taxpayers with family coverage under an HDHP by $50, to $6,850...