BULLETIN: Supplement to BenefitsLink Health & Welfare Plans Newsletter for October 21, 2015

[Official Guidance]

Text of IRS News Release IR-15-119: In 2016, Some Tax Benefits Increase Slightly Due to Inflation Adjustments, Others Are Unchanged (PDF)
"For tax year 2016, the Internal Revenue Service today announced annual inflation adjustments ... Revenue Procedure 2015-53 provides details about these annual adjustments

For tax year 2016, the monthly limitation for the qualified transportation fringe benefit remains at $130 for transportation, but rises to $255 for qualified parking, up from $250 for tax year 2015.

For tax year 2016 participants who have self-only coverage in a Medical Savings Account, the plan must have an annual deductible that is not less than $2,250, up from $2,200 for tax year 2015; but not more than $3,350, up from $3,300 for tax year 2015. For self-only coverage the maximum out of pocket expense amount remains at $4,450. For tax year 2016 participants with family coverage, the floor for the annual deductible remains as it was in 2015 -- $4,450, however the deductible cannot be more than $6,700, up $50 from the limit for tax year 2015. For family coverage, the out of pocket expense limit remains at $8,150 for tax year 2016 as it was for tax year 2015."

(Internal Revenue Service [IRS])