[Thread merged into here, see below (next page) --admin LadyGeek]
Not sure if this was posted earlier. If so, sorry for duplicate post.
We have our HSA with HSA Authority and they just informed us that the IRS reduced the limit for 2018 contributions by $50. (Of course, this would be the year that we max'd it out early so we could take out cash for a large medical bill...)
IRS Announces Changes to 2018 HSA Contribution Limits
On Monday, March 5, 2018, the IRS announced that the previously released maximum family contribution limit to a Health Savings Account (“HSA”) is reduced from $6,900 to $6,850 in 2018. This change applies immediately and any family contribution to an HSA in 2018 over $6,850 could be subject to taxes and penalties.
The individual contribution limit of $3,450 and the "55 and over" catch-up of $1,000 remain the same.
This change is a result of a provision in H.R. 1 (“Tax Reform”) that changed the way that inflation-related increases are calculated.
For more information please see page 17 (Section 400) of Bulletin No. 2018-10.
Potential Action Steps:
If you have elected more than the new $6,850 family limit to be deposited to your HSA through payroll deductions and/or employer contributions, contact your employer to adjust your 2018 HSA contribution election.
If you have already exceeded the new limit through payroll deduction and/or employer contributions, contact your employer.
If you have already exceeded the new limit due to deposits made yourself (not through payroll), contact HSA Operations at HSASupport@oldnational.com