Health Savings Accounts ("HSA")
2017 HSA Limits Released May 2, 2016
The Internal Revenue Service (IRS) released Revenue Procedure 2016-28 on April 28, 2016. This provides the 2017 annual contribution, deductible, and out-of-pocket maximum limits for Health Savings Accounts (HSA) and HSA qualified high deductible health plans.
To enable advanced planning, the 2017 amounts for HSA qualified plans are as follows:
- Annual contributions to an HSA may not exceed $3,400 for self-only coverage and $6,750 for family coverage (individuals age 55 or older may make additional catch-up contributions of up to $1,000).
- Pre-tax Contributions Explained (click here for video)