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IRS releases HSA Limits for 2016

September 17, 2015 | Leave a Comment

On May 4, 2015, the Internal Revenue Service (IRS) released Revenue Procedure 2015-30 to announce the inflation-adjusted limits for health savings accounts (HSAs) for calendar year 2016. The IRS announced the following limits for 2016:

  • The maximum HSA contribution limit;
  • The minimum deductible amount for high deductible health plans (HDHPs); and
  • The maximum out-of-pocket expense limit for HDHPs.

These limits vary based on whether an individual has self-only or family coverage under an HDHP.

Only some of the HSA limits will increase for 2016. The limits that will increase are the HSA contribution limit for individuals with family HDHP coverage and the maximum out-of-pocket expense limit for self-only and family HDHP coverage.

 

Type of Limit

2015

2016

Change

HSA   Contribution Limit

Self-only

$3,350

$3,350

No   change

Family

$6,650

$6,750

Up $100

HSA Catch-up Contributions (not subject to adjustment for inflation)

Age   55 or older

$1,000

$1,000

No   change

HDHP Minimum Deductible

Self-only

$1,300

$1,300

No   change

Family

$2,600

$2,600

No   change

HDHP Maximum Out-of-pocket Expense Limit (deductibles, copayments and other   amounts, but not premiums)

Self-only

$6,450

$6,550

Up $100

Family

$12,900

$13,100

Up $200

 

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