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2017 Limits for HSA, High-Deductible Plans Unveiled

The IRS has announced the 2017 limits for health savings accounts (HSAs) and high-deductible health plans. For the most part, the news is “no news,” with most of the limits unchanged.

In Revenue Procedure 2016-28, the IRS notes that out-of-pocket maximums are unchanged at $6,550 for individuals and $13,100 for families, as do the maximum contributions for family plans ($6,750). Individual contribution limits will increase slightly, from $3,350 to $3,400, due to federal cost of living adjustments.

For calendar year 2017, a “high deductible health plan” is defined under §223(c)(2)(A) 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.

For both 2015 and 2016, IRS regulations mandating the potential contributions on plans covering families (a minimum of two people) held successive increases of $100. Individual restrictions were increased by $50 in 2015, but were unchanged last year.

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