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Advanced Benefit Systems, Inc. offers a complete line of insurance products and services. These products and services are designed to provide solutions to your personal and business financial needs.
|Individual & Senior Insurance|
- Life Insurance
- Short Term Medical
- Travel Insurance
2017 Federal Poverty Level Chart – Income Brackets for 2017 Premium Tax Credits
Contiguous 48 States
*The ACA law text reads 133 percent, but also calls for a new method of calculating income bringing the minimum to 138% and they are choosing to disregard the 5% discrepancy.
If your family contains more than 8 people, add $4,160 for each additional.
Cost-Sharing Allowances – Income Based
Contiguous 48 States
*As a couple or married, this is still 100% help toward premiums, but there is less help with copays and deductibles
IRS Announces Inflation Adjustments for 2018 HDHPs and HSAs
The Internal Revenue Service (IRS) has released the inflation-adjusted amounts for high-deductible health plans (HDHPs) and health savings accounts (HSAs) for the 2018 calendar year. These adjustments include maximum HSA contributions, minimum deductible amounts and maximum out-of-pocket limits.
Contributions to an HSA
The annual limit on contributions to an HSA for an individual with self-only coverage under an HDHP is $3,450 (U.S. Code Â§223(b)(2)(A)). The annual limit on contributions to an HSA for an individual with family coverage under an HDHP is $6,900 (Â§223(b)(2)(B)).
Additional Contribution Amount (Individuals Age 55 and Older)
There is no change from 2017. The catch-up contribution limit to an HSA remains $1,000 (Â§223(b)(3)(B)).
High-deductible Health Plans
An HDHP is defined as a health plan with an annual deductible that is not less than $1,350 for self-only coverage or $2,700 for family coverage (Â§223(c)(2)(A)). The annual out-of-pocket expenses (deductibles, copayments and other amounts, but not premiums) do not exceed $6,650 for self-only coverage or $13,300 for family coverage.
For more information about the calculation of the inflation adjustments, see the IRS revenue procedure document.