MINNEAPOLIS--(BUSINESS WIRE)--AskMrHSA.com predicts that most 2016 contribution limits and high deductible health plan requirements for HSAs will rise. A printable chart with all estimated 2014-2016 figures is available at AskMrHSA.com.
"With last week's release of the December inflation figures by the Bureau of Labor Statistics (BLS), the inflation-adjusted amounts for HSAs for 2016 are becoming very clear," says Todd Berkley, President of HSA Consulting Services, and author of the HSA Owner’s Manual. “We have tracked the adjustments since 2004 and with only three months of data remaining to be collected, we can now predict the 2016 HSA limits with virtual certainty.”
The prescribed data period for calculating the inflation adjustments runs through March. The U.S. Treasury Department is required to publish the inflation-adjusted amounts for the upcoming year for HSAs by June 1 each year.
“We predict that the maximum HSA contribution will increase to $6,750 for those with family coverage in 2016,” Berkley said. The individual contribution limit is expected to remain $3,350. The annual catch-up contribution for individuals aged 55 or older will remain $1,000 per person for 2016.
AskMrHSA.com also predicts that the annual limits on out-of-pocket cost and the minimum deductible for HSA-qualified plans may also see changes in 2016. The full set of predicted 2016 limits is being released to AskMrHSA.com subscribers today.
The site offers rich content on every aspect of HSA Rules, HSA Situations, and HSA Strategies. Subscribers get access to exclusive content, educational videos, and free personal answers to HSA questions from HSA experts. Individual and corporate subscriptions are available, starting at $1.99 for a one-day pass and $9.99 for an annual individual subscription. Corporate memberships start at $50 per year.
About HSA Consulting Services, LLC.
HSA Consulting Services provides consulting services focused on HSA growth. We are passionate advocates for HSA growth and education. As a leading voice in the Health Savings Account (HSA) industry, we can:
- Help companies engage employees in the HSA experience
- Assist current players to profitably grow their CDH businesses
- Advise CDH market entrants.