2016 Health Savings Account Tax Deduction Amounts

The annual limit on tax deductions that individuals can take for contributions they make to health savings accounts, or HSAs, will be $6,750 (increased from 2015) for family coverage under a high-deductible health plan, and $3,350 (same as 2015) for employee-only coverage under a high-deductible health plan. 
A high-deductible health plan is a plan with an annual deductible that is at least $1,300 for employee-only coverage or $2,600 for family coverage, with annual out-of-pocket expenses that do not exceed $6,550 for employee-only coverage and $13,100 for family coverage.  Deductibles are the same as for 2015, but these out-of-pocket limits are increased from 2015.

The IRS sets HSA contribution limits annually based upon cost-of-living adjustments. These increases will take effect in January 2016.

Get a Free Demo

Fill out the form below & we'll email you a video product demo!

Which solution are you interested in?
Optimum Solutions will not sell, rent, or lease your personal information.

HR Director Eric Gibbons, Ajax Turner Company, Inc.

he customer support team is cooperative, attentive, and can speak on my level. They can be creative in developing solutions to issues whether major or minor. I have and will continue to recommend OSI to any person that will listen.