2018 Health Savings Accounts Limits Are Set - Salt Lake City Insurance Agents

The IRS recently published the inflation adjusted limits for the 2018 Health Savings Accounts (HSA). Deposits made to an HSA are tax free; contributions grow within the account tax free; and distributions are tax free as long as the money is used for out-of-pocket health care expenses, including deductibles.

Here are the new limits:

Individual accounts rise to $3,450 (from 2017’s $3,400)
Family coverage rises to $6,900 (from 2017’s from $6,700)
Maximum out-of-pocket figures are also up: for single coverage to $6,650 (from 2017’s $6,550) and for family coverage to $13,300 (from 2017’s $13,100)

Source: IRS

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TPMO Disclaimer: We do not offer every plan available in your area. Currently we represent 8 organizations which offer 45 products in your area. Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Program (SHIP) to get information on all of your options.

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Ark Insurance Solutions is a licensed and certified representative of Medicare Advantage organizations and stand-alone prescription drug plans. Each organization has a Medicare contract. Enrollment depends on contract renewal.

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