HSA Update -why you should be using them!
- Sunday, 19 March 2017 10:58
Great article byLoretta Metzger, Employee Benefit Advisor, 3/13/17
As the cost of healthcare zooms upward, many employers are shifting to high-deductible health plans, which include a lower monthly premium and, as the name implies, a higher deductible. In 2016, 29% of all insured employees were enrolled in HDHPs — an increase of 9% since 2014, according to Kaiser Family Foundation. Often, employers offer health savings accounts along with HDHPs to enable employees to save money tax-free for medical expenses.
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HSA limits for 2017 released
- Friday, 06 May 2016 07:07
2017 HSA Contributions
The IRS issued Rev. Proc. 2016-28 establishing the 2017 contribution limits for Health Savings Accounts. Individuals with self-only coverage under a high-deductible health plan will be permitted to contribute $3400 (up $50 from 2016), and $6,750 for individuals with family coverage under a high-deductible health plan. The out-of-pocket maximums for 2017 will remain the same at $6550 for self-only coverage and $13,100 for family coverage.