On May 10, 2018, the Internal Revenue Service (IRS) released Revenue Procedure 2018-30 to announce the inflation-adjusted limits for High Deductible Health Plans (HDHPs) and Health Savings Accounts (HSAs), effective January 1, 2019. Adjustments have been made to the maximum allowable HSA contribution limits, minimum allowable deductible amount, and the maximum allowable out-of-pocket expense limit for HDHPs. Due to this change, employers that sponsor HDHPs may need to make plan design changes for plan years beginning January 1, 2019.
Contact your Cowden representative for more information on this or other compliance issues.