HSAs are tax-exempt accounts that help people save money for eligible medical expenses. To qualify for a HSA, the policyholder must be enrolled in a HSA-qualified high-deductible health plan, must not be covered by other non-HDHP health insurance or Medicare, and cannot be claimed as a dependent on a tax return.
HSA 2017 Contribution Limits:
• Individual (self-only coverage) – $3,400 ($50 increase from 2016)
• Family Coverage – $6,750 (unchanged from 2016)
HDHP 2017 minimum required deductibles:
• $1,300 for self-only coverage (unchanged from 2016)
• $2,600 for family coverage (unchanged from 2016)
Out-of-Pocket 2017 maximum:
(Expenses include deductibles, co-pays, and other amounts, but not premiums.)
• $6,550 for self-only coverage (unchanged from 2016)
• $13,100 for family coverage (unchanged from 2016)
To read more about HSAs and their benefits:
