The IRS released the 2016 Health Savings Account contribution limits, the minimum required HDHP deductibles, and the out-of-pocket maximums. Each year, the IRS reviews these figures based on a cost-of-living adjustment.

The figures below pertain to HSA’s and HSA-qualified High Deductible Health Plans.

2016 Annual HSA Contribution Limits

Single: $3,350 (unchanged from 2015)

Family: $6,750 ($100 increase from 2015)

2016 Annual Minimum HDHP Required Deductibles

Single: $1,300 (unchanged from 2015)

Family: $2,600 (unchanged from 2015)

2016 HDHP Out-of-Pocket Maximums

Single: $6,550 ($100 increase from 2015)

Family: $13,100 ($200 increase from 2015)

All High Deductible Health Plans and Health Savings Accounts with Smola Consulting Clients will be compliant with these 2016 IRS updates.

More information can be found at:

http://www.irs.gov/pub/irs-drop/rp-15-30.pdf