HSA Limits Set for 2016
In Revenue Procedure 2015-30 the IRS provided updated numbers for 2016 for health savings accounts and the related high deductible health plans.
The annual contribution limits for 2016 for health savings accounts under IRC §223(b)(2)(A) will be:
- Self-only coverage: $3,350
- Family coverage: $6,750
The minimum deductible for a high deductible health plan under IRC §223(c)(2)(A) for 2016 will be:
- Self-only coverage: $1,300
- Family coverage: $2,600
The maximum out of pocket expenses, including deductible, co-payments and other items except premiums for a high deductible health plan for 2016 may not exceed:
- Self-only coverage: $6,550
- Family coverage: $13,100