The IRS has released the 2016 inflation adjusted amounts for Health Savings Accounts (HSAs). ampills.com. heart cholesterol. To be eligible to continue to an HSA, an individual must be covered under a high deductible health plan (HDHP) and meet certain other eligibility requirements.
2016 Annual Contribution Limitation
For calendar year 2016, the annual limitation on HSA deductions for an individual with self-only coverage under a HDHP is $3,350. The annual limitation on HSA deductions for an individual with family coverage under an HDHP is $6,750.
What is an High Deductible Health Plan (HDHP)?
For calendar year 2016, a “high deductible health plan” is defined as a health plan with an annual deductible that is not less than $1,300 for self-only coverage or $2,600 for family coverage, and the annual out-of-pocket expenses (deductibles, co-payments, and other amounts, but not premiums) do not exceed $6,550 for self-only coverage or $13,100 for family coverage.