IRS announces 2016 HSA limits

Posted on Jun 25, 2015

The 2016 inflation-adjusted amounts for health savings accounts (HSAs) have been released by the IRS. Individuals will be allowed to contribute up to $3,350, and contributions for family coverage will be limited to $6,750. As before, an individual aged 55 or older may contribute an additional $1,000. For 2016, a “high-deductible health plan” is one with an annual deductible of not less than $1,300 for individual coverage and $2,600 for family coverage.

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