This guidance modifies the annual limit for health savings accounts (HSAs) for individuals with family coverage under an HDHP. Specifically, this guidance allows health savings account holders to again treat the 2018 limit as $6,900.
As background, on May 4, 2017, the IRS set the maximum HSA contribution for family coverage for 2018 at $6,900. On March 2, 2018, Tax Reform legislation reduced the limit to $6,850 for HSA account holders with family coverage under HDHPs. Due to administrative and financial burdens that outweigh any tax benefit associated with an unreduced HSA limit, the Treasury Department and the IRS have determined it is in the best interest to allow account holders to continue to treat $6,900 as the HSA contribution maximum for 2018.
Coronavirus – Mindful Insurance Remote Work Arrangements
At Mindful Insurance Solutions, our top priority has always been to deliver best-in-class service to our clients. We chose the name “Mindful” precisely to be “present and willing to do something” with our clients, and that’s what we always strive to be—present with you in your business.
To ensure that we remain true to our name during the current coronavirus pandemic, we are taking every precaution possible to protect the health and safety of our team and their families.
Therefore, in line with much of the rest of the country, as of today, our team will work remotely, and our physical office locations will be closed.
For now, our plan is to maintain remote work arrangements for as long as local authorities require or medical experts advise. We will closely monitor the situation to determine when we can return to our normal office procedures.
The good news is that our technological capability enables everyone on our team to work seamlessly from remote locations. During this period, we will continue to be readily accessible to you. Your emails and phone calls/voicemails will be answered as per usual, and our Mindful Insurance professionals will work to meet your needs in all the ways you have come to expect from us.
We understand that insurance is a people-oriented industry, and Mindful prides itself on being a people-oriented company. But while there is no substitute for face-to-face interaction, it is prudent to curtail such interaction as much as possible until things return to normal. Therefore, Mindful also stands ready to interact with you via remote video/teleconferencing as desired.
These extraordinary steps are necessary to preserve the health of our team and to help curtail the spread of the virus, while upholding our commitment to you, our clients. On behalf of the entire Mindful team, I want to thank you for your understanding and support during these challenging times. We wish you, your families and your teams much good health.