Compliance May 9, 2017

IRS Announces HSA Limits for 2018

The amounts individuals and families can contribute to HSAs has increased.
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The Internal Revenue Service (IRS) issued Revenue Procedure 2017-37, which provides the 2018 inflation adjusted amounts for health savings accounts (HSAs) as determined under Section 223 of the Internal Revenue Code.

For calendar year 2018, the annual limitation on deductions for an individual with self-only coverage under a high-deductible health plan is $3,450. For calendar year 2018, the annual limitation on deductions for an individual with family coverage under a high deductible health plan is $6,900.

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For calendar year 2018, the IRS defines a “high deductible health plan” 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, and the annual out-of-pocket expenses (deductibles, co-payments, and other amounts, but not premiums) do not exceed $6,650 for self-only coverage or $13,300 for family coverage.

Text of Revenue Procedure 2017-37 is here.

Products May 8, 2017

FiduciaryVest Licenses InHub eRFP Technology

Both qualitative and quantitative responses will populate a proprietary, in-house digital database delivering more accessible and actionable data to the FiduciaryVest's consultants and analysts.
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Consulting firm FiduciaryVest has licensed InHub’s eRFP technology. 

The enterprise license will allow the consulting firm to streamline the process, increasing capacity to take on more search projects while still providing a highly-customized and comprehensive evaluation process for their clients.

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FiduciaryVest advises on approximately $16 billion in institutional assets including retirement plans, health and hospital systems, and foundations/endowments. The firm intends to use the eRFP tool to circulate and collect:

  • Request for Proposals (RFPs) for recordkeepers/custodians/trustees, actuarial services and investment managers, and
  • Due Diligence Questionnaires (DDQ) on firm utilized and recommended vendors and managers.

Both qualitative and quantitative RFP/DDQ responses will populate a proprietary, in-house digital database delivering more accessible and actionable data to the firm’s consultants and analysts.

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