HSA Limits for 2016

The Internal Revenue Service recently announced the inflation-adjusted limits for health savings accounts (HSA) for calendar year 2016.

The IRS announced the following limits for 2016:dollar limits

  • The maximum HSA contribution limit;
  • The minimum deductible amount for high deductible health plans (HDHPs); and
  • The maximum out-of-pocket expense limit for HDHPs.

These limits vary based on whether an individual has self only or family coverage under an HDHP.  Only some of the HSA limits will increase for 2016. The limits that will increase are the HSA contribution limit for individuals with family HDHP coverage and the maximum out-of-pocket expense limit for self-only and family HDHP coverage.

HSA Contribution Limit

  • Self Only: No change from 2015 to 2016 as the amount remains at $3,350.
  • Family: Amount increases by $100 from $6,650 in 2015 to $6,750 in 2016.

HSA Catch-up Contributions

(not subject to adjustment for inflation)

  • Age 55 or older: No change from 2015 to 2016 as the amount remains at $1,000.

HDHP Minimum Deductible

  • Self Only: No change from 2015 to 2016 as the amount remains at $1,300.
  • Family: No change from 2015 to 2016 as the amount remains at $2,600.

HDHP Maximum Out-of-Pocket Expense Limit

(deductibles, copayments and other amounts, but not premiums)

  • Self Only: Amount increases by $100 from $6,450 in 2015 to $6,550 in 2016.
  • Family: Amount increases by $200 from $12,900 in 2015 to $13,100 in 2016.