IRS Announces 2017 HSA Contribution Limits, HDHP Minimum Deductibles, and HDHP Out-of-Pocket Maximums

On April 28, 2016, the IRS issued Rev. Proc. 2016-28, which set forth the 2017 HSA contribution limits, HDHP minimum deductibles, and HDHP out-of-pocket maximums. To summarize, the IRS provided for a mere $50 increase in the amounts that a single person in an HSA-compatible HDHP may defer into his/her Health Savings Account.
All other limits, amounts and features remain as they were in 2016.  The specific limits are listed below:

• HSA Contribution Limits 2016: Individual – $3,350; Family – $6,750
• 2017: Individual – $3,400; Family – $6,750
• HDHP Minimum Deductibles
  • 2016 – Individual – $1,300; Family – $2,600
  • 2017 – Individual – $1,300; Family – $2,600
• HDHP Out-of-Pocket Maximums
  • 2016 – Individual – $6,550; Family – $13,100
  • 2017 – Individual – $6,550; Family – $13,100

For further information please see IRS Rev. Proc. 2016-28 by clicking HERE.