HSA (health savings account) cost-of-living contribution and coverage adjustments for 2016 have been issued in Revenue Procedure 2015-30. The new 2016 HSA limits, minimum deductibles and maximum out-of-pocket expense levels for calendar year 2016 are as follows:
HSA Annual Contribution Limitation
Self-Only Coverage: $3,350 – no change from 2015
Family Coverage: $6,750 – up from $6,650 in 2015
Catch-up Contribution: $1,000 – no change from 2015
HSA contributions can only be made by individuals enrolled in a high deductible health plan. For calendar year 2016, a high deductible health plan is defined as a health plan with:
Minimum Annual Deductible
Self Only Coverage: $1,300 – no change from 2015
Family Coverage: $2,600 – no change from 2015
Maximum Annual Out-of-Pocket Expenses
Self-Only Coverage: $6,550 – up from $6,450 in 2015
Family Coverage: $13,100 – up from $12,900 in 2015
For more information on HSAs, see the Employers and HSAs reference material on Compliancedashboard.