“The annual limit on deductible contributions to a health savings account will jump by $50 in calendar year 2018 for individuals and $150 for families, according to the IRS. For 2018, the annual contribution limitation for a person with self-only coverage under a high-deductible health plan is $3,450, up from $3,400 in calendar year 2017, the IRS announced last week. The annual limit on deductible contributions for a person with family coverage under a high-deductible health plan will be $6,900 in 2018, up from $6,750 in 2017.”
LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):
HSAs hold great potential to fund future LTCI premiums. Healthy people depositing the maximum each year into Health Savings Accounts without drawing heavily on their high-deductible insurance plans will see their tax-deferred balances increase steadily over the years. As they approach middle-age, they’ll have these resources to draw down painlessly for LTC protection while it is still very affordable.