Do you need to change any HSA, HDHP limits for 2016? IRS says ‘yes’
The calendar hasn’t turned to June yet, but the IRS is already gearing up for 2016 with its latest release.
Revenue Procedure 2015-30, which was just published, puts forth the 2016 inflation-adjusted HSA contribution limits, HDHP required deductibles and HDHP out-of-pocket maximums.
The changes from 2015 have been highlighted in red for quick reference. The amounts below are effective for calendar year 2016.
HSA contribution maximums (employee & employer combined)
- Individual: $3,350
- Family: $6,750 (up $100 from 2015)
(Note: Catch-up contributions for those 55 and older aren’t tied to any automatic-escalators — like the Consumer Price Index or inflation — and will remain at $1,000 unless a statutory change is made.)
HDHP minimum deductibles
- Individual: $1,300
- Family: $2,600
HDHP out-of-pocket maximums
- Individual: $6,550 (up $100 from 2015)
- Family: $13,100 (up $200 from 2015)
(Note: Out-of-pocket expenses include deductibles, co-pays and co-insurance — but not premiums.)
