The IRS released the 2017 cost of living adjustments relating to health savings accounts. For 2017, the HDHP annual deductible limits and out-of-pocket limits remain unchanged from 2016 limits; only the individual contribution limit increased slightly.
In Revenue Procedure 2016-28, the IRS released the 2017 cost of living adjustments relating to health savings accounts (HSA). For 2017, the high deductible health plan (HDHP) annual deductible limits and out-of-pocket limits remain unchanged. Only the individual contribution limit increased slightly. As a reminder, if a family HDHP plan has an embedded deductible, the statutory minimum deductible for any individual cannot be less than $2,600 (the family statutory minimum deductible). The $1,000 catch up contribution available to accountholders aged 55 and over is not tied to a cost of living adjustment and thus, remains at $1,000.
Click Here To find out moreEverybody in the employee benefits field uses acronyms like ALE, MLR, and ACA, but what do these and other employee benefits acronyms stand for?
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Everybody in the employee benefits field uses acronyms like ADA, MSP, and PHI, but what do these and other employee benefits acronyms stand for?
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Everyone in the employee benefits field uses acronyms like CDHC, EAP, and VEBA, but what do they stand for?
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The IRS has issued FAQs that explain when certain costs related to nutrition, wellness, and general health are medical expenses under Code § 213.
04/14/2023
A new wrinkle recently added a potential complication to calculating these deadlines.
04/14/2023