As many of you know, I track the data needed to make inflation adjustments for Health Savings Accounts from one year to the next. I have accurately predicted the annual adjustments by the Internal Revenue Service for the past 11 years.
With today’s release of the December inflation figures by the Bureau of Labor Statistics, the inflation-adjusted amounts for HSAs for 2018 are coming into view. With only three months of data remaining to be collected, I can now project the HSA amounts for next year with virtual certainty.
I am projecting that every HSA-related number will change for 2018 (except for the $1,000 catch-up contribution). This means insurance carriers and trustees and custodians will need to plan ahead and start making the necessary adjustments now. The good news for consumers is the HSA contribution limits will be going up, both for singles and families. You can find my projections on my website AskMrHSA.com.
If inflation remains low (as is expected), my projections are likely to be the final 2018 amounts determined by the IRS later this Spring. Look for my final projections in April.