a health savings account (HSA) is a tax-advantaged savings account paired with a high-deductible health plan qualified (HDHP). With an HSA there is an adjusted annual contribution limit each year by the IRS.
This article describes the HSA contribution limits and other guidelines HSA, 2016.
HSA Guidelines 2016
| HSA limit contribution | HDHP minimum deductible | HDHP maximum out-of-Pocket | HSA 55+ amount of the supplementary contribution | |
| Single | $ 3,350 | $ 1300 | $ 6,550 | $ 1,000 |
| family | $ 6,750 | $ 2,0 | $ 13,100 | $ 1,000 |
compared to 2015 contribution HSA limits .
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The HSA contribution limit has not changed for a single, and was up $ 100 for the family
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The minimum HDHP deductible has not changed.
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The HDHP maximum out-of-pocket amount increased to $ 100 for a single, and increased by $ 0 for a family.
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The amount of "catch up" for people aged 55 and older has not changed.
HSA contributions for the 2016 tax year can be made until 15 April 2017. If you use an HSA to pay expenses unqualified medical in 2016, the tax penalty is 20% of the HSA distribution.
2016 HSA guidelines were released by the IRS in Revenue Procedure 2015-30
Resources additional HSA
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Health Savings Account - HSA 2016 Rules and requirements
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health savings accounts (HSA) - 10 FAQ
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FAQ: what is an HSA high Deductible health Plan (HDHP )?
Conclusion
HSA is a financial account established by a person or family to pay for qualified expenses medical and saving for the future tax-free. In 2016, the HSA contribution limit is $ 3,350 for singles and $ 6,750 for the family
Editor's Note :. This post was originally published in July 2015.
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