Ask Terry Questions HSA Contributions

HSA Contributions

By Terry Savage on June 20, 2018 | Insurance & Annuities

I currently purchase individual health insurance with a high deductible (Bronze plan) on the exchange. In the past I have been able to contribute to a health savings account to help cover my deductible. However in 2018 I will not be able to contribute to a HSA because my maximum annual deductible and other out-of-pocket expenses of my policy is too high. This does not make sense to me because the higher the annual deductible all the more reason to take advantage of an HSA. The IRS sets a “maximum annual deductible and other out-of-pocket expenses” for an individual at $6650.00 for 2018. The maximum annual deductible and other out-of-pocket expenses for my policy is $7350.00. I could not find any insurance policy on the exchange this year that would qualify for an HSA. It seems that more and more people would be affected by this as deductibles keep rising year to year. Could you please explain why a maximum deductible limit would be put on this? Am I missing something?

Terry Says

Nothing the government does about health care makes sense to me! But I’ll be honest and say this is the first time I have heard about this issue. I suggest you go to and check for a policy that will comply with the new rules. And you’ve given me an idea for a column, so I will check it out with them, as well.

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