Health flexible spending arrangements not subject to $2,500 limit on salary reduction contributions for plan years beginning before 2013 and comments requested on potential modification of use-or-lose rule.
Click here for the IRS Notice 2012-40
The IRS has announced the 2018 inflation-adjusted amounts for Health Savings Accounts (HSAs).
Annual Contribution Limitation
For calendar year 2018, the annual limitation on HSA deductions for an individual with self-only coverage under a high deductible health plan is $3,450 (up from $3,400 for 2017). The annual limitation on HSA deductions for an individual with family coverage under a high deductible health plan is $6,900 (up from $6,750 for 2017).
High Deductible Health Plan Amounts
For calendar year 2018, a "high deductible health plan" is defined as a health plan with an annual deductible that is not less than $1,350 for self-only coverage or$2,700 for family coverage, and annual out-of-pocket expenses (deductibles, co-payments, and other amounts, but not premiums) that do not exceed $6,650 for self-only coverage or $13,300 for family coverage.
Fees to fund the Patient-Centered Outcomes Research Institute (PCORI) are due to the IRS no later than July 31, 2017 from employers who sponsor certain self-insured health plans, including health reimbursement arrangements (HRAs) that are not treated as excepted benefits.
How to Pay PCORI Fees
Employers that sponsor certain self-insured health plans must report and pay the required PCORI fees via IRS Form 720,Quarterly Federal Excise Tax Return. For plan years endingbetween January 1, 2016 and September 30, 2016, the fee for an employer sponsoring an applicable self-insured plan is $2.17 multiplied by the average number of lives covered under the plan. For plan years ending between October 1, 2016 and December 31, 2016, the fee is $2.26 multiplied by the average number of lives covered under the plan.
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