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 2015-2016 figures is available at AskMrHSA.com.
"With last week's release of the March inflation figures by the Bureau of Labor Statistics (BLS), the inflation-adjusted amounts for HSAs for 2016 can be predicted with certainty," says Todd Berkley, President of HSA Consulting Services, and author of the HSA Owner’s Manual. “We have tracked the adjustments since 2004 and we now have all the data we needed to finalize our 2016 projections.”
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 some annual limits on out-of-pocket cost and the minimum deductible for HSA-qualified plans will also change in 2016. The full set of predicted 2016 limits is being released to AskMrHSA.com subscribers today.
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