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HSA 2018 End-of-Year Reminders

With tax filing deadlines approaching, we wanted to take a moment to provide you with the following Health Savings Account (HSA) reminders:

Contributions for Calendar Year 2018

• IRS contribution limits for an HSA for 2018 are $3,450 for single coverage and $6,900 for family coverage with an additional $1,000 catch-up contribution available to Accountholders 55 years of age and older. Now is the time to review your year-to-date contribution totals to make sure you are maximizing your tax savings and that you will not over-contribute to your account.

• If you had changes in your health plan coverage this year, you may need to prorate the contributions based on the months of each type of coverage.

• Individuals may contribute for 2018 until April 15, 2019.

Tax Forms

• Individuals who are participating in a HSA must file a Form 8889. Form 8889 must be filed for any year that you make or receive HSA contributions or any year that you take a HSA distribution.

The following documents will be used to complete Form 8889:

✓ Form 5498-SA from the HSA trustee that reports total contributions made during the year and the value of the HSA at year end.

✓ The HSA trustee will also send Form 1099-SA to you reporting total distributions made for the year, if applicable.

For more information, please click here.

Should you have any questions or need additional information, please contact us.

March 21, 2019/by Melodie Mesiano
Tags: Form 1099-SA, Form 5498-SA, Form 8889, Health Savings Account, HSA, HSA trustee, IRS contribution limits for an HSA, tax filing deadlines
https://www.aherninsurance.com/wp-content/uploads/2017/03/AHERN_HL-e1489681510325.png 0 0 Melodie Mesiano https://www.aherninsurance.com/wp-content/uploads/2017/03/AHERN_HL-e1489681510325.png Melodie Mesiano2019-03-21 09:24:472019-03-21 09:32:17HSA 2018 End-of-Year Reminders

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© 2019 AHERN Insurance Brokerage. Site by CurlyHost.

San Diego Corporate Office
9655 Granite Ridge Dr
Suite # 500
San Diego, CA 92123

CA 0K07568

Toll Free: 800.282.9786

Local: 858.571.9030

Fax: 858.571.9010

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