The Internal Revenue Service (IRS) recently announced the 2017 inflation-adjusted limits for health savings accounts (HSAs). This includes the maximum annual HSA contribution, the minimum annual deductible for a high-deductible health plan (HDHP) and the maximum annual out-of-pocket expense for an HDHP.

For 2017, the maximum annual HSA contribution for individuals with self-only coverage will increase from $3,350 to $3,400, but the limit will remain $6,750 for individuals with family coverage. The minimum annual deductible and maximum annual out-of-pocket expense limits for HDHPs will stay the same for both self-only and family coverage. These amounts are updated annually to reflect cost-of-living adjustments.

These limits will need to be incorporated in relevant benefit plan communications for 2017.

Self-only coverage 2016 2017 Change
Maximum annual HSA contribution $3,350 $3,400 +$50
Minimum annual deductible for HDHP $1,300 $1,300 none
Maximum annual out-of-pocket expense limit for HDHP $6,550 $6,550 none
Family coverage 2016 2017 Change
Maximum annual HSA contribution $6,750 $6,750 none
Minimum annual deductible for HDHP $2,600 $2,600 none
Maximum annual out-of-pocket expense limit for HDHP $13,100 $13,100 none

The 2017 HSA catch-up contribution limit for participants who are 55 or older on December 31, 2017, remains $1,000. This amount is fixed by statute.