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Employee Benefits Update - June 2018

COMPLIANCE UPDATE: IRS ANNOUNCES HSA LIMITS FOR 2019

On May 10, 2018, the Internal Revenue Service released Revenue Procedure 2018-30 to announce the inflation-adjusted limits for health savings accounts (HSAs) and high deductible health plans (HDHPs) for 2019. The HSA contribution limits will increase effective Jan. 1, 2019, while the HDHP limits will increase effective for plan years beginning on or after Jan. 1, 2019.

MORE COMPLIANCE NEWS: AFFORDABILITY PERCENTAGES WILL INCREASE FOR 2019

On May 21, 2018, the Internal Revenue Service issued Revenue Procedure 2018-34 to index the contribution percentages in 2019 for purposes of determining affordability of an employer's plan under the Affordable Care Act (ACA). As a result, some employers may have additional flexibility with respect to their employee contributions for 2019 to meet the adjusted percentage.

UPCOMING EVENTS

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