Health & Welfare Plans Newsletter

BULLETIN
Supplement to
May 4, 2015

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[Official Guidance]

Text of IRS Revenue Procedure 2015-30: 2016 Inflation-Adjusted Amounts for Health Savings Accounts (HSAs) (PDF)
"[1] Annual contribution limitation: For calendar year 2016, the annual limitation on deductions under Section 223(b)(2)(A) for an individual with self-only coverage under a high deductible health plan is $3,350. For calendar year 2016, the annual limitation on deductions under Section 223(b)(2)(B) for an individual with family coverage under a high deductible health plan is $6,750. [2] High deductible health plan: For calendar year 2016, a 'high deductible health plan' is defined under Section 223(c)(2)(A) 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." (Internal Revenue Service [IRS])  

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