HSA Contribution Limits for 2016 Adjusted for Inflation

The IRS has released the 2016 inflation adjusted amounts for health savings accounts (HSAs). To be eligible to contribute to an HSA, an individual must be covered under a high deductible health plan (HDHP) and meet certain other eligibility requirements.


Annual Contribution Limitation                                           

For calendar year 2016, the annual limitation on HSA deductions for an individual with self-only coverage under an HDHP is $3,350 (same as 2015). The annual limitation on HSA deductions for an individual with family coverage under an HDHP is $6,750 (Increase of $100 over 2015 limit)

The $1,000 catchup contribution per individual age 55 or older did not change.

To view the IRS announcement, please see Revenue Procedure 2015-30.
Please feel free to contact us if you have any questions. 

Thank you, 
George Knox, CLU, ChFC
214.695.2904 (mobile) 214.443.1400 (office) | george@insuranceisboring.com

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