News & Updates

← Back to News & Updates

IRS Releases 2017 Health Savings Account Limits

May 24, 2016

HR360, Inc.
April 29, 2016

HSA Contribution Limits and Minimum Deductibles Announced for 2017

The Internal Revenue Service (IRS) has announced the 2017 inflation-adjusted amounts for Health Savings Accounts (HSAs) as determined under the Internal Revenue Code.

Annual Contribution Limitation
For calendar year 2017, the annual limitation on deductions for an individual with self-only coverage under a high deductible health plan is $3,400 (up from $3,350 for 2016). The annual limitation on HSA deductions for an individual with family coverage under a high deductible health plan is $6,750 (unchanged from 2016).

High Deductible Health Plan (Amounts Unchanged From 2016)
For calendar year 2017, a “high deductible health plan” is defined as a health plan with an annual deductible that is not less than $1,300 for self-only coverage or $2,600 for family coverage, and the annual out-of-pocket expenses (deductibles, co-payments, and other amounts, but not premiums) do not exceed $6,550 for self-only coverage or $13,100 for family coverage.

You may view the IRS Revenue Procedure announcing the 2017 amounts by clicking here.

Be sure to check out our section on Health Savings Accounts or ​beere&purves's HSA Backpack page for more on HSAs.

©2017 BEERE&PURVES
Privacy Policy