2016 HSA Contribution Limits, Deductibles, and Out-of-Pocket Expenses
2016 offers individuals and families additional opportunities to save for current and future health care with a Health Savings Account (HSA):
- HSA holders can choose to save up to $3,350 for an individual and $6,750 for a family (HSA holders 55 and older get to save an extra $1,000 which means $4,350 for an individual and $7,750 for a family) – and these contributions are 100% tax deductible from gross income.
- Minimum annual deductibles are $1,300 for self-only coverage or $2,600 for family coverage.
- Annual out-of-pocket expenses (deductibles, copayments, and other amounts, but not premiums) cannot exceed $6,550 for self-only coverage and $13,100 for family coverage.
|
Minimum |
Maximum |
Contribution Limit |
55+ Contribution |
||
|
Single |
$1,300 |
$6,550 |
$3,350 |
$1,000 |
|
|
Family |
$2,600 |
$13,100 |
$6,750 |
$1,000 |
For more detailed information on HSA plans and taxes, visit the U.S. Department of Treasury website atwww.ustreas.gov or talk with your tax advisor.