IRS announces 2016 limits for Health Savings Accounts (HSAs)

Make note of these changes; they will be important when you make your benefit elections for 2016.

The IRS has released its 2016 inflation-adjusted limits for Health Savings Accounts (HSAs) in Rev. Proc. 2015-30.

For 2016, some HSA contribution limits and high-deductible health plan (HDHP) out-of-pocket maximums remain the same while others have increased from 2015 limits.

•     2016 Annual Contribution Limits: $3,350 (Unchanged from 2015) for self-only coverage and $6,750 ($6,650 in 2015) for family coverage.

•     2016 HDHP Minimum Annual Deductible: $1,300 for self-only coverage and $2,600 for family coverage. 

        – Unchanged from 2015

•     2016 HDHP Annual Out-of-Pocket Maximum (deductibles, copayments, and other amounts, but not premiums): $6,550 ($6,450 in 2015) for self-only coverage and $13,100 $12,900 in 2015) for family coverage.