05/02/2016
IRS Announces 2017 Health Savings Account (HSA) Limits
The IRS has announced the limits for 2017 for HSAs. Here are the limits for HSA s for 2017:
| |
Single |
Family |
| High Deductible Health Plan Minimum Annual Deductible |
$1,300 |
$2,600 |
| High Deductible Health Plan Maximum Out-of-Pocket |
$6,550 |
$13,100 |
| HSA Maximum Contribution |
$3,400 |
$6,750 |
All amounts will remain the same with the exception of the annual contribution limit for single coverage. The amount has increased $50 from the 2016 limit of $3,350.
For more information, please see IRS Revenue Procedure 2016-28.
Interested in offering an HSA? Please contact myCafeteriaPlan for more information regarding our comprehensive HSA services!
BusinessPlans, Inc. – myCafeteriaPlan does not intend to provide legal or tax advice and information contained in this article should not be interpreted as such. Regulations governing pretax plans are often open to interpretation and should be reviewed with your legal or tax advisor before making any decisions regarding your plan.