Let the Planning Begin: IRS Releases HSA and HDHP Limits for 2016
For those that like to get a jump on planning for next year, the IRS just announced the new 2016 contribution limits for a health savings account (“HSA”), as well as the 2016 minimum deductible and maximum out-of-pocket limits associated with a high deductible health plan (“HDHP”). The IRS did not change several of the numbers, as you will see in the following comparison:
| 2015 HSA Contribution Limits | 2016 HSA Contribution Limits | |
| 1. Self-Only | $ 3,350 | $ 3,350 |
| 2. Family | $ 6,650 | $ 6,750 |
| 2015 Minimum HDHP Deductible | 2016 HDHP Minimum Deductible | |
| 1. Self-Only | $ 1,300 | $ 1,300 |
| 2. Family | $ 2,600 | $ 2,600 |
| 2015 HDHP Max Out-of-Pocket | 2016 HDHP Max Out-of-Pocket | |
| 1. Self-Only | $ 6,450 | $ 6,550 |
| 2. Family | $12,900 | $13,100 |
Keep in mind that HHS already released its 2016 maximum out-of-pocket limits ($6,850/$13,700), and will also require embedded out-of-pocket maximums beginning with the 2016 plan year. Because the IRS’s out-of-pocket maximums for an HDHP are lower than the HHS maximums, HDHPs must use the lower IRS limit. However, the HHS rule on embedding out-of-pocket maximums still applies to HDHPs. The interplay between the rules can be a little confusing, so consult with your providers now to make sure your coverage for 2016 complies with both the HHS and IRS guidance.