an HDHP with a July 1 plan year would not be subject to the 2024 $1,600/$3,200 minimum deductible amounts until the plan year of July 1, 2024, which continues through June 30, 2025. In contrast, the HSA contribution limits are based on the calendar year, even for non-calendar year...
2024 2023 Change Annual HSA Contribution Limit (employer and employee) Self-only: $4,150 Family: $8,300 Self-only: $3,850 Family: $7,750 Self-only: +$300 Family: +$550 HSA catch-up contributions (employer and employee) $1000 $1000 No change Minimum Annual HDHP Deductible Self-only:...
IRS rules for HDHP also limit out-of-pocket expenses. In 2025, HDHP out-of-pocket expenses cannot exceed: $8,300for individuals $16,600for families. HDHP Advantages Employers may offer high deductible plans for enrollees who prefer to pay a lower monthly premium. Higher deductibles can save...
and Other Tax Relief of 2018 tax bill. The bill proposed to renew tax breaks that expired on December 31, 2017 (i.e. the Tuition and Fees Deduction) and provided retirement saving tax help (i.e. eliminate required minimum distributions for savers with less than $50,000 in retirement plans...