IRS issues 2017 HSA limits

Self-only deduction went up $50, amount for family coverage remains same

Posted May 3, 2016

On April 28, the Internal Revenue Service (IRS) released the 2017 adjusted Health Saving Account (HSA) limits. The modifications are effective for calendar year 2017.

Annual contribution limitation

For calendar year 2017, the annual limitation on deductions for an individual with self-only coverage under a high deductible health plan is $3,400. This is up $50 from the 2016 annual limitation.

For calendar year 2017, the annual limitation on deductions for an individual with family coverage under a high deductible health plan is $6,750. This amount did not change from 2016.

High deductible health plan

For calendar year 2017, a “high deductible health plan” is defined as a health plan with an annual deductible that is not less than $1,300 for self-only coverage or $2,600 for family coverage.

The annual out-of-pocket expenses (deductibles, co-payments, and other amounts, but not premiums) do not exceed $6,550 for self-only coverage or $13,100 for family coverage.

These amounts did not change from 2016.


 

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