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2016 IRS Maximums & Limits for Welfare Benefit Plans

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by Christopher Macali on 11 November, 2015 with Add new comment

The IRS has announced the following maximums and limits for 2016 Welfare Benefit Plans. Notably, the Health FSA maximum, HSA minimum annual deductibles, and annual single HSA contribution limit remain unchanged. The annual family HSA contribution limit increases by $100. The full list can be found below.

Cafeteria Plans:

Health FSA Maximum: $2,550.00
Dependent Care Assistance Plans (Dependent Care FSA) annual maximum: $5,000.00
Medical mileage rate to obtain medical care (reimbursable by a Health FSA): TBA
Compensation amount for determining Highly Compensated Employee: $120,000.00
Compensation amount for determining Key Employee (officers/owners earning over): $170,000.00

 

HSA Plans:

Minimum annual HDHP deductible – Single: $1,300.00
Minimum annual HDHP deductible – Family: $2,600.00
Annual HSA Contribution Limit – Single: $3,350.00
Annual HSA Contribution Limit – Family: $6,750.00
Plan Out-of-Pocket Max for HSA Eligibility – Single: $6,550.00
Plan Out-of-Pocket Max for HSA Eligibility – Family: $13,100.00
Annual HSA Contribution Limit – Age 55+ catch-up: $1,000.00

 

For more information or questions regarding how the limits impact your plan, feel free to contact us.

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Christopher Macali

Christopher Macali

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