Reform Alert

August 4, 2015

On May 4, 2015, the Internal Revenue Service (IRS) released calendar year 2016 out-of-pocket (OOP) maximum limits and minimum deductible amounts for high deductible health plans (HDHPs).

For calendar year 2016, the OOP maximum limits will be:

•    $6,550 for self-only coverage (up from $6,450 in 2015)
•    $13,100 for family coverage (up from $12,900 in 2015)

Please note: Due to a difference in annual adjustment criteria, the OOP levels for HDHPs are lower than the OOP levels required of individual ($6,850), and small, large group and self-funded coverage ($13,700) in 2016 under the Affordable Care Act.

There is no change to the HDHP minimum deductible levels for calendar year 2016:
 
•    $1,300 for self-only coverage
•    $2,600 for family coverage

The annual Health Savings Account (HSA) contribution limitations for calendar year 2016 were also included in the guidance released on May 4:

•    $3,350 annual contribution limit for self-only coverage
•    $6,750 annual contribution limit for family coverage

Where can I find more information?
More information from the IRS can be found here.