By Gwen Cofield
The 2017 contribution limits for health savings accounts (HSAs), recently announced by the Internal revenue Service (IRS), include a slight adjustment for self-only coverage.
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For self-only plans, the 2017 contribution limit (employer and employee) is $3,400; this represents a $50 increase over the 2016 limit. For family plans, the 2017 limit remains unchanged from the 2016 amount of $6,750, according to Revenue Procedure 2016-28.
For both 2016 and 2017, the IRS is defining a high deductible health plan as one with an annual deductible of not less than $1,300 for self-only coverage or $2,600 for family coverage.