IRS Updates Health Savings Account Limits for 2016

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)

icon Rev Proc 2015-30

Author: Erwin Kratz

Mr. Kratz practices in the areas of ERISA and employee benefits law, focusing on tax and regulatory matters relating to qualified and nonqualified deferred compensation and welfare benefits.