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Compliance Update - IRS Announces Increased 2016 HSA Index Figures

Story Content Provided by WageWorks on 5/12/15

On May 4, 2015 the IRS released the new Health Savings Account (HSA) index figures for 2016.The 2016 index includes increases to the family contribution limits and maximum out-of-pocket expenses. The maximum annual contribution limit for individual coverage and minimum annual deductible for both individuals and families remains the same.

The IRS provides this early release to help plan sponsors and participants budget for the upcoming year. See the table below for details and the IRS Revenue Procedure publication (RP-2015-30) for the text of the 2016 index figures.

2016 Health Savings Account Index Figures

Minimum deductible amounts for the qualifying high-deductible health plan (HDHP)  

Individual coverage
2015        2016                                                                                                                                                                      
$1,300   $1,300

Family coverage  
2015         2016
$2,600  $2,600                                                             

Maximum contribution levels
Individual coverage            
2015         2016                                                                                                                                                         
$3,350   $3,350

Family coverage
2015        2016
$6,650   $6,750

Catch-up contribution allowed for those 55 and over
2015          2016
$1,000   $1,000

Maximums for HDHP out-of-pocket expenses
Individual coverage
2015          2016
$6,450    $6,550

Family coverage          
2015            2016                                                                                                                                                                 
$12,900 $13,100

Click here to go to RP-2015-30

Click here for a chart containing historical HSA index figures dating back to 2004.