On Monday, June 8, 2020, the Treasury Department (“Treasury”) and the Internal Revenue Service (“IRS”) released Proposed Regulations addressing the tax treatment of amounts paid for two unique types of medical arrangements –...more
In March of this year, the IRS adjusted the 2018 HSA contribution limit for individuals enrolled in family coverage down $50 from $6,900 to $6,850. A little over a month later, the IRS reconsidered the retroactive limit...more
On April 26, 2018 the IRS issued Revenue Procedure 2018-27 providing transition relief for the 2018 limit on Health Savings Account (“HSA”) contributions for family coverage. The guidance allows individuals to continue to...more
In May 2017, the Internal Revenue Service (“IRS”) issued Revenue Procedure 2017-37, which set the 2018 limit at $6,900 for annual contributions made to a health savings account (“HSA”) by those with eligible family health...more
Acknowledging “numerous unanticipated administrative and financial burdens,” the IRS officially revoked its earlier attempt to lower the 2018 health savings account (HSA) contribution limits. ...more
The IRS has announced that it will restore the family deduction limit for Health Savings Account (HSA) contributions to $6,900 for 2018. The IRS had previously set this limit last spring, but earlier this year announced that...more
The IRS previously announced that the 2018 contribution limit for health savings accounts (HSAs) corresponding to family coverage under a high-deductible health plan would be $6,900. However, now three months into 2018, the...more
Employers who sponsor a High Deductible Health Plan with a Health Savings Account (HSA) should take immediate action and notify employees that the annual maximum family contribution limit to an HSA has changed....more