On June 24, 2019, President Trump signed an executive order that would, among other things, make it easier for consumers to choose an HSA-compatible High Deductible Health Plan, expand the definition of preventive care under this type of plan, and expand the list of HSA-eligible expenses.

The Internal Revenue Service has announced the 2020 deductible, out-of-pocket, and contribution limits for Health Savings Accounts (HSA). Here they are:

A couple questions:

As premiums continue to increase, more and more people are purchasing plans with higher deductibles and no up-front copayments. Most of these plans are HSA-compatible, so we thought it might be fun to test your HSA knowledge. Below are five questions that you could get from clients relating to Health Savings Accounts. See how you do.

The Internal Revenue Service has announced the 2019 deductible, out-of-pocket, and contribution limits for Health Savings Accounts (HSA). Here they are:

For the first time since HSAs were introduced nearly 15 years ago, the Internal Revenue Service has retroactively reduced the HSA contribution limit. In a recent press release, the IRS announced that it is lowering the maximum family contribution to a Health Savings Account for 2018 from $6,900 to $6,850. The change comes as a result of the new tax bill. The self-only contribution amount remains $3,450.

As the number of Health Savings Accounts has increased in recent years, agents across the country have become increasingly frustrated with the way their computers “autocorrect” the letters “HSA,” converting the acronym to an all-cap version of the word “HAS.” It’s annoying, isn’t it?

The Internal Revenue Service has announced the 2018 deductible, out-of-pocket, and contribution limits for Health Savings Accounts. Here they are:

The American Health Care Act had only a 17% approval rating before being pulled without a vote on Friday, March 24. The legislation would have made a number of positive changes for Health Savings Accounts, but the good news for HSA fans is that Republican lawmakers have another shot at expanding these popular tax-advantaged accounts.

The IRS recently announced the new HSA contribution, deductible, and out-of-pocket limits for 2017, and not much is changing. In fact, the only change is to the individual contribution limit: it’s increasing from $3,350 to $3,400. Everything else is staying the same.