IRS Sets 2016 Limits for HSA Deductions – Minor Changes

The IRS released this week the inflation adjusted limits for health savings accounts (maximum contributions) and HSA-compatible health plans (minimum deductibles and maximum out-of-pocket costs).

2016 IRS Limits*

  Type of Limit

Single Plan

Family Plan

Maximum HSA Contribution Limit $3,350  ($3,350) $6,750  ($6,650)
Minimum Health Plan Deductible $1,300  ($1,300) $2,600  ($2,600)
Maximum Health Plan Out-of-Pocket $6,550  ($6,450) $13,100 ($12,900)
Catch-up Contribution (Age 55+) $1,000  ($1,000) $1,000  ($1,000)

*2015 Limits in parentheses

 For official word from the IRS refer to  http://www.irs.gov/pub/irs-drop/rp-15-30.pdf



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