Paypro Group Health Insurance
The Internal Revenue Service has announced, in Revenue Procedure 2015-30, the 2016 inflation-adjusted deduction limits for contributions made to health savings accounts (HSAs). The deduction limits are updated annually to reflect cost-of-living adjustments

Effective for calendar year 2016, the annual limitation on deductions for an individual with self-only coverage under a high deductible health plan remains unchanged at $3,350.  For calendar year 2016, the annual limitation on deductions for an individual with family coverage under a high deductible health plan will increase $100 to $6,750.

A “high deductible health plan”, for calendar year 2016, 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 (including deductibles, co-payments and other amounts, but not premiums) do not exceed $6,550 for self-only coverage or $13,100 for family coverage.

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