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IRS Announces 2016 HSA contribution limits

5/5/2015 4:40:54 PM hsa irs 2016 single family high deductible

According to the IRS, the maximum contribution that can be made next year to an HSA linked to a high-deductible plan will be:

• $3,350 for single coverage

• $6,750 for employees with family coverage

However, maximum out-of-pocket expenses will increase in 2016 for both.

Maximum out-of-pocket employee expense, including deductibles, will be:

• $6,550 for single coverage

• $13,100 for family coverage.

For 2016, a high-deductible health plan is defined as a one with an annual deductible of least $1,300 for single coverage and $2,600 for family coverage.

Increases in the HSA limits, which are detailed in Revenue Procedure 2015-30, are tied to changes in the cost of living.

Please contact your TC advisor for more information.