News & Updates
April 29, 2016
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.