The House of Representatives has passed two health care bills containing a broad array of policy changes.
According to the Employee Benefit Research Institute (EBRI), passage of the Increasing Access to Lower Premium Plans and Expanding Health Savings Accounts Act of 2018 would raise the annual limits on contributions to health savings accounts (HSAs) to match the out-of-pocket deductibles of the high-deductible health plans that the accounts were implemented to support.
The new legislation would nearly double statutory limits on annual contributions to HSAs those with employee-only health coverage—from $3,450 to $6,550—and, those with family coverage could contribute even more—a new total of $13,300, ($6,400 more than the current $6,900 limit for HSA account holders with family coverage). Account holders older than 55 can contribute an additional $1,000 regardless of their health coverage level.
EBRI asked the question, “Would these limit increases prompt additional funding into HSAs?”