The IRS has updated the Health Savings Account (HSA) limits for 2016:
- The annual limit on HSA contributions for individuals with self only coverage under a High Deductible Health Plan (HDHP) is $3,350 (unchanged from 2015). For an individual with family coverage, the limit is $6,750 (up from $6,650 in 2015).
- The minimum annual deductible for a HDHP is $1,300 for self only coverage and $2,600 for family coverage (both unchanged from 2015).
- The annual out of pocket maximum for an HDHP is $6,550 for self-only coverage (up from $6,450 in 2015) and $13,100 for family coverage(up from $12,900 in 2015)
