2018 Benefit Limits Adjusted

The IRS has released a recalculation of several cost of living increases for 2018. Among the changes, Revenue Procedure 2018-18 reduces the family HSA contribution from $6,900 to $6,850, as well as reduces qualified adoption expenses from $13,840 to $13,810.

It should be noted that there are no changes to Healthcare FSA and transit benefit limits.

JD Supra outlines the following changes, effective for the 2018 calendar year:

  • The family HSA contribution for 2018 is reduced from $6,900 to $6,850.
  • For employer adoption assistance programs, the maximum amount that can be excluded from an employee’s gross income for qualified adoption expenses is reduced from $13,840 to $13,810. Further, the adjusted gross income threshold after which the adoption exclusion begins to phase out is reduced from $207,580 to $207,140.
  • Health care FSA, transit and other benefit limits are not impacted.

For more information on these changes, please click here.

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