HSA Benefits Updated
Learn about changes to the 2018 health savings account benefit.
HSA accounts allow money to be set aside on a pre-tax basis to pay for qualified medical expenses. Recently, the Internal Revenue Service (IRS) provided inflation-adjusted health savings account (HSA) contribution limits as well as minimum deductible and maximum out-of-pocket expenses for high-deductible health plans (HDHP).
The Annual HSA contribution limits and changes to HDHP for 2018 are:
- HSA contribution limit, self-only, $3,450 (an increase of $50 from 2017)
- HSA Family, $6,900 (an increase of $150 from 2017)
- HDHP minimum deductible for self-only, $1,350 (an increase of $50 from 2017)
- HDHP minimum deductible for family, $2,700 (an increase of $100 from 2017)
- HDHP maximum out-of-pocket* amounts for self-only, $6,650 (an increase of $100 from 2017)
- HDHP maximum out-of-pocket* amounts for family, $13,300 (an increase of $200 from 2017)
There are no changes to HSA catch-up contributions for people age 55 or older. The limit is still $1,000.
The following treatments, services and products are eligible expenses covered by an HSA:
Services Treatments Products
Hospital services Preventive screenings Asthma equipment
Laboratory fees Dental care Birth control
Lactation consulting Addiction Vision supplies
Ultrasounds Natural medical procedures Diabetic equipment and supplies
Speech therapy Chiropractic First aid supplies
Smoking cessation programs Counseling Hearing aids and batteries
Psychologist services Eye exams/surgery/care Medical alert jewelry and
Preventive care services Pre-existing conditions membership fees
Physical therapy Immunizations Prescription medications
Hospice care Home-health nurse visits Sunscreen
Visit https://www.irs.gov/pub/irs-pdf/p502.pdf for a complete list of eligible HSA expenses.
* Qualified out-of-pocket expenses include deductibles, co-payments and other amounts, but not premiums.