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IRS sets 2017 HSA contribution limits

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IRS sets 2017 HSA contribution limits

The maximum contributions that can be made to health savings accounts in 2017 will increase $50 for individuals, but remain unchanged for families.





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A Business Insurance guide to the latest requirements for FSAs, HSAs, employer pension plans, wellness and more

The Internal Revenue Service announced Thursday that the maximum contribution that can be made next year to an HSA linked to a high-deductible plan will be $3,400, up from $3,350, while the maximum contribution for those with family coverage will remain at $6,750.

However, maximum out-of-pocket expenses will remain the same in 2017 for both categories.

The maximum out-of-pocket employee expense, including deductibles, will remain at $6,550 for single coverage, and $13,100 for family coverage.

For 2017, a high-deductible health plan is defined as a one with an annual deductible of least $1,300 for self-only coverage and $2,600 for family coverage.

Increases in the HSA limits, which are detailed in Revenue Procedure 2016-28, are tied to changes in the cost of living.

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