Inflation Adjustments for the Tax Cuts and Jobs Act
By Dr. David Edward Marcinko MBA
http://www.CertifiedMedicalPlanner.org
On March 5, 2018, the IRS released Revenue Procedure 2018-18 (as part of Bulletin 2018-10). Due to changes made in the Tax Cuts and Jobs Act, certain adjustments needed to be made to inflation amounts.
The includes a reduction in the maximum family HSA contribution for those with family coverage under an HDHP from $6,900 to a new limit of $6,850 for calendar year 2018. The single contribution limit remains unchanged at $3,450 per year.
This reduction affects employees participating in an HSA Plan who have elected to contribute more than $6,850 for family coverage in 2018.
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Filed under: Accounting, Health Insurance, Taxation | Tagged: david marcinko, HSA, Tax Cuts and Jobs Act | 8 Comments »















