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May 24, 2016
IRS announces 2017 HSA contribution limits

In Revenue Procedure 2016-28, the IRS recently announced the 2017 contribution limits for Health Savings Accounts (HSAs):

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For self-only plans, the 2017 contribution limit (employer + employee) is $3,400; this represents a $50 increase over the 2016 limit. For family plans, the 2017 limit remains unchanged from the 2016 amount of $6,750.

For both 2016 and 2017, the IRS is defining a high-deductible health plan (HDHP) as one with an annual deductible of not less than $1,300 for self-only coverage or $2,600 for family coverage. Annual out-of-pocket expenses (deductibles, co-payments, and other amounts not including premiums) for both 2016 and 2017 cannot exceed $6,550 for self-only coverage or $13,100 for family coverage.

Note that the 2017 out-of-pocket limits are different for ACA-compliant plans, at $7,150 for self-only plans and $14,300 for family plans. More information is available here.

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