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2017 HSA Contribution Limit Changes

Small Change for health savings account (HSA) contribution limits in 2017.

The Internal Revenue Service (IRS) issued its new guidelines for contributions and out-of-pocket expenses for HSAs that are tied to a high-deductible health plan.

Contribution limits will remain intact for family plans, while individual contributions increased slightly ($50).

Here's the run-down of the details:

Maximum contributions for family plans remain the same at $6,750
Individual contributions can increase from $3,350 to $3,400

HSAs are open to all persons enrolled in a qualified high-deductible health insurance program aside from those policyholders currently covered by Medicare or listed as a dependent.

For both 2015 and 2016, IRS regulations mandating the potential contributions on plans covering families (a minimum of two people) held successive increases of $100. Individual limits, meanwhile, were bumped up by $50 in 2015, but remained stable in 2016. The adjustment for 2017 of $50 to the individual contribution limit restores the contribution limit parity.

The annual fluctuations of HSA contribution levels are based directly upon federal cost of living adjustments. They will be applied for the calendar year of 2017.

You can also find this information on our website.

Thank you,

George Knox, CLU, ChFC

214.695.2904 (mobile) | 214.443.1400 (office) | [email protected]

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