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Health Net Is Exiting the California Group Market
Health Net will no longer offer small or large group coverage in CA. In-force groups terminate February 28, 2027. Your Claremont team is ready to help find alternatives. Call 800.696.4543 or email quotes@claremontcompanies.com.
Can the allowable maximum contribution to a Health Savings Account decrease?
Yes. And it just did. On March 5, 2018, the IRS announced that for 2018, the maximum allowable contribution to an HSA account with family coverage decreased $50. Previously the IRS had set the maximum contribution at $6,900, it is now $6,850. The maximum contribution for accounts with self-only coverage remains unchanged at $3,450.
This article from the Society for Human Resource Management explains that the IRS took this unusual step after calculating how the tax reform legislation recently enacted impacts inflation adjustments to HSA contribution maximums. Benefits brokers and agents should consider passing this information on to their clients who have high-deductible HSA-compatible plans in place.
There may be a more recent answer to this question. Contact Claremont for an update.