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    Tax Update: Changes to Health Savings Accounts

    Posted by Jeff Kujawa on Mar 7, 2018 10:30:49 AM

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    The Internal Revenue Bulletin 2018-10 was released March 5, and the Internal Revenue Service (IRS) described changes to the limit on health savings accounts (HSAs) as prescribed by the Tax Cuts and Jobs Act of 2017. 

    For calendar year 2018, the annual limitation on deductions under Internal Revenue Code Section 223(b)(2)(B) for an individual with family coverage under a high-deductible health plan is $6,850, down from $6,900.

    For an individual with self-only coverage, nothing has changed since the IRS announced limits in 2017.  

     

    Please click HERE to view the full Internal Revenue Bulletin 2018-10. 

     


    If you would like to discuss how these provisions, or others, impact your business, please leave a note below, call, or contact us HERE.

     

     

    Topics: Tax Planning, brixey and meyer, planning, Tax, Tax Team, tax reform, Tax updates