HSA Updates and Reminders

IRS Raises 2019 HSA Contribution Limits

In Revenue Procedure 2018-30, the IRS issued the annual inflation-adjusted contribution, deductible and out-of-pocket expense limits for 2019 for HSAs.

Under Sec. 223, individuals who participate in a high-deductible health plan (HDHP) are permitted a deduction for contributions to HSAs set up to help pay their medical expenses. The contribution deduction limit is subject to an annual inflation adjustment.

The amount that individuals may contribute annually to their health savings accounts (HSAs) for self-only coverage will rise by $50 next year. For HSAs linked to family coverage, the contribution cap will rise by $100.


For clear comparison, we have outlined the changes from 2018 to 2019.

 

 

HSA Tax Documents

 

1099 Tax Forms

  • Electronic forms will be available on the Consumer Portal on 1/10/19.
  • Upon request and for a $10 fee; printed forms will be mailed to the consumer no later than 1/31/19.
  • 1099-SA corrections will begin on 2/1/19 if needed.

5498 Tax Forms:

  • Electronic forms will be available on the Consumer Portal on 1/28/19.
  • Upon request and for a $10 fee; printed forms will be mailed to the consumer no later than 2/15/19.
  • 5498-SA corrections will begin on 2/15/19 if needed

 

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