2018 High Deductible Insurance Requirements for an HSA

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2018 IRS HDHP rules for HSA use

When it comes to Health Savings Accounts (HSAs), understanding the requirements for a high-deductible insurance plan is crucial. In 2018, the IRS set specific guidelines that high-deductible health plans (HDHPs) must meet in order to qualify for use with an HSA.

To be eligible for an HSA in 2018, the high-deductible insurance requirements include:

• A minimum annual deductible of $1,350 for self-only coverage and $2,700 for family coverage.
• Out-of-pocket maximum limits of $6,650 for self-only coverage and $13,300 for family coverage.
• Coverage exclusions for certain types of services, such as prescription drug benefits that are not subject to the deductible.

How meeting HDHP requirements enables HSA benefits

By meeting these requirements, individuals and families can take advantage of the tax benefits offered by HSAs, such as tax-deductible contributions, tax-free growth, and tax-free withdrawals for qualified medical expenses.

In 2018, to utilize a Health Savings Account (HSA), it was essential to understand that your high-deductible health plan (HDHP) must meet certain IRS-defined requirements. For example, a minimum annual deductible of $1,350 for self-only coverage was required, while families needed to have a minimum of $2,700.