The IRS has announced the following maximums and limits for 2017 Welfare Benefit Plans. Notably, the Health FSA maximum and HSA maximum contribution for self-only coverage increased $50. The HSA contribution maximum for family coverage and the minimum deductibles for HSA qualifying health plans remained the same. The full list can be found below.
|Health FSA Maximum:||$2,600.00|
|Dependent Care Assistance Plans (Dependent Care FSA) annual maximum:||$5,000.00|
|Medical mileage rate to obtain medical care (reimbursable by a Health FSA):||$0.17|
|Compensation amount for determining Highly Compensated Employee:||$120,000.00|
|Compensation amount for determining Key Employee (officers/owners earning over):||$175,000.00|
|Minimum annual HDHP deductible – Single:||$1,300.00|
|Minimum annual HDHP deductible – Family:||$2,600.00|
|Annual HSA Contribution Limit – Single:||$3,400.00|
|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.