News
IRS Announces 2017 Limits
June 7, 2016
|
The IRS has announced the 2017 contribution limits, deductible minimums and out-of-pocket maximums for Health Savings Accounts (HSAs) and high-deductible health plans (HDHPs):
- The maximum annual HSA contribution for individual HDHP coverage will increase from $3,350 to $3,400. The maximum annual HSA contribution for family contribution will remain at $6,750. Age 55 catch-up contributions will continue to be at $1,000.
- The minimum HDHP deductible must be at least $1,300 for an individual and at least $2,600 for a family. There was no change from 2016.
- The annual maximum for HDHP out-of-pocket expenses (deductibles, copayments and other amounts) will remain at $6,550 for individual coverage and $13,100 for family coverage.
These limits are effective for calendar year 2017. For HDHPs with non-calendar plan years, the minimum deductible and out-of-pocket limits are those that are in effect on the first day of the plan year.