The IRS just released the 2017 HSA contribution limits, HDHP required deductibles and HDHP out-of-pocket maximums, and across all the various limits there was a change of a whooping $50.
The IRS limits are based on cost-of-living adjustments.
2017 at a glance
The annual contribution limits:
- Single coverage. The maximum an individual with self-only coverage in an HDHP can contribute to an HSA jumps to $3,400 (a $50-increase from last year’s $3,350 limit).
- Family coverage. The max contribution for an individual with family coverage in an HDHP remains $6,750.
The minimum deductibles:
- Single. The minimum deductible for self-only HDHP coverage will remain at $1,300.
- Family. The minimum will remain at $2,600.
The HDHP out-of-pocket maximums:
- Single. The maximum amount an HDHP participant can pay out of pocket for self-only coverage (including deductibles, co-pays and co-insurance – but not premiums) will remain $6,550.
- Family. The max an HDHP participant can pay for a family plan stays at $13,100.
Obamacare’s ’embedded’ rule
Another thing firms need to be mindful of with these limits is the “embedded” out-of-pocket maximum rule.
Under this reg, each member of a non-grandfathered family plan would only be subject to the individual cost-sharing limit for his or her expenses instead of the higher family limit.