IRS Announces Changes to 2016 Health Savings Account Limits

Hunt Valley, MD, June 06, 2015

ConnectYourCare today announced that 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 for self-only coverage and $6,750 for family coverage.
    • Self-only coverage limit remains unchanged from 2015 limit, while family limit increased from 2015 limit of $6,650.
  • 2016 HDHP Minimum Annual Deductible: $1,300 for self-only coverage and $2,600 for family coverage.
    • Unchanged from 2015 minimum annual deductible of $1,300 for self-only coverage and $2,600 for family coverage.
  • 2016 HDHP Annual Out-of-Pocket Maximum (deductibles, copayments, and other amounts, but not premiums): $6,550 for self-only coverage and $13,100 for family coverage.
    • Up from 2015 limits of $6,450 for self-only coverage and $12,900 for family coverage.

Learn more about tax-advantaged HSAs at www.connectyourcare.com/our-products/health-savings-account.

About ConnectYourCare
As one of the largest and most responsive providers of health care savings accounts, and award-winning solutions, our approach to consumer directed health care is rooted in creating better, more efficient connections among the people who provide benefits, the people accessing services, and the people who deliver services. Blue chip organizations across the country turn to ConnectYourCare for our highly rated customer service and best-in-class member experience, advanced educational tools for better-informed choices, acceleration of savings with ROI efficiencies and simplification of processes with brilliant customer-focused solutions. There is a unique solution for every company and we won’t stop working until we connect you with the perfect one. How can we help ConnectYourCare?

By |2018-01-29T08:24:31+00:00June 6th, 2015|
Disclaimer: ConnectYourCare does not provide tax or legal advice. This information is not intended and should not be taken as tax or legal advice. Any tax or legal information in this notice is merely a summary of ConnectYourCare’s understanding and interpretation of some of the current tax regulations and is not exhaustive. You should consult your tax advisor or legal counsel for advice and information concerning your particular situation before making any decisions.