IRS Releases Inflation-adjusted HSA Figures for 2017 Health Savings Accounts (HSAs) allow eligible individuals to make deductible contributions that can be withdrawn tax-free later to reimburse the individual for eligible medical expenses. For 2017, the limitation on HSA deductions is $3,400 (up from $3,350 for 2016) for an individual with self-only coverage under a High Deductible Health Plan (HDHP) or $6,750 (no change from 2016) for an individual with family coverage. An HDHP is defined under IRC Sec. 223(c) as a health plan with an annual deductible not less than $1,300 (no change from 2016) for self-only coverage or $2,600 […]
