“Forget the lottery. Bet on yourself instead.”
– Brian Koslow
The IRS released the inflation-adjusted limits for Health Savings Accounts (HSAs) and High Deductible Health Plans (HDHPs) for the 2019 calendar year. They included the following information:
An increase of $100 to $7,000 maximum HSA contribution limit for a family will begin January 1, 2019. Individuals will see an increase of $50 for a maximum HSA contribution of $3,500. Even with the additional contribution limits, the IRS held the minimum deductible amount for HDHPs to $1,350 for individuals and $2,700 for families. This is seen as a nice win for consumers.
The the opposite side, the out-of-pocket maximums did jump for both individuals ($100) and families ($200). These means that an employee might see their deductibles and copays increase to $6,700 while families cap out at $13,500. Employees who have banked their contributions from previous years will be better able to absorb these changes.
If your company needs help understanding what these changes mean for your employees and their families, contact one of the consultants at BenefitCorp.