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Reminder - HSA Plan Limits for 2017

Marshall & Sterling E-Alerts - Keeping You in the Know

Each year, the IRS adjusts the annual amounts for Health Savings Account (HSA) contributions, high-deductible health plan (HDHP) deductibles, and related out-of-pocket maximums (OOPM).
 
Aside from a small increase of $50 in the amount that individuals may contribute annually to their HSAs for self-only coverage, 2017 HSA-related amounts remain unchanged from the 2016 limits, as shown in the below chart: 

 

For 2016

For 2017

Change

HSA contribution limit
(employer + employee)
Self-only: $3,350
Family: $6,750
Self-only: $3,400
Family: $6,750
Self-only: +$50
Family: no change
HDHP minimum deductibles Self-only: $1,300
Family: $2,600
Self-only: $1,300
Family: $2,600
Self-only: no change
Family: no change
HDHP maximum out-of-pocket amounts (deductibles, co-payments and other amounts, but not premiums) Self-only: $6,550
Family: $13,100
Self-only: $6,550
Family: $13,100
Self-only: no change
Family: no change

Affordable Care Act Limits Differ
An important thing to note, and a frequent source of confusion, is the existence of two distinct sets of limits on out-of-pocket expenses.
 
The Affordable Care Act (ACA) imposes out-of-pocket or cost-sharing limits that are slightly higher than the IRS's out-of-pocket limits on HSA-qualified HDHPs. In order for a health plan to qualify as an HDHP, the plan must comply with the lower out-of-pocket maximum limit for HDHPs.
 

 

2016

2017

Out-of-pocket limits for ACA-compliant plans (set by HHS) Self-only: $6,850
Family: $13,700
Self-only: $7,150
Family: $14,300
 
Out-of-pocket limits for HSA-
qualified HDHPs (set by IRS)
Self-only: $6,550
Family: $13,100
Self-only: $6,550
Family:$13,100

Thank you for your attention to this important compliance E-Alert. Please do not hesitate to reach out with any questions or concerns. 
Best, 
 
Dannielle O'Toole, Esq.
Health Care Reform & Compliance Specialist
Marshall & Sterling Insurance
845-226-3083, x-2452