OPM finalized a rule today that released the Blue Cross Blue Shield Federal Employees Program from its current limit of offering two options and a high deductible plan with a health savings account. Beginning next year, Blue Cross can offer any type of third option that OPM is willing to approve.
The Internal Revenue Service (“IRS”) reversed itself today when it announced that the 2018 maximum health savings account contribution for family coverage will be $6,900. In May 2017 the IRS announced that the family maximum would be $6,900 for 2018. Then earlier this year, the IRS announced that due to the adoption of the chained CPI-U in the new tax law, the family maximum would be lowered to $6,850. We fortuitously have come full circle.