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IRS Issues 2016 Version of Publication 969 on HSAs, HRAs, Health FSAs, and MSAs



IRS Publication 969 (Health Savings Accounts and Other Tax-Favored Health Plans (for 2016 Tax Returns))

Available at–2016.pdf

Publication 969 has been updated for use in preparing 2016 tax returns. This publication provides basic information about HSAs, HRAs, health FSAs, Archer MSAs, and Medicare Advantage MSAs, including brief descriptions of benefits, eligibility requirements, contribution limits, and distribution issues.

There are only minor changes to the 2016 version. The HSA contribution limits and HDHP out-of pocket maximums (see our Checkpoint article), and the Archer MSA contribution limits and deductible requirements (see our Checkpoint article), have all been revised for 2016. The limits and thresholds for HSAs and HDHPs for 2017 have also been provided (see our Checkpoint article). In addition, the publication notes that the limit on health FSA salary reduction contributions for plan years beginning in 2016 has increased to $2,550 (see our Checkpoint article).

EBIA Comment: Publication 969 provides a convenient overview of the basic features of various consumer-driven health care vehicles, but it isn’t designed to drill down into the many design and administration details that employers and their advisors need to know. For more information on HSAs, HRAs, Archer MSAs, and Medicare Advantage MSAs, see EBIA’s Consumer-Driven Health Care manual. For more information about health FSAs, see EBIA’s Cafeteria Plans manual. You may also be interested in our upcoming webinar, “Qualified Small-Employer HRAs and Other Strategies for Small Employers,” (live on 3/15/17) and our recorded webinar, “Workplace Health Savings Accounts (HSAs)” (recorded 10/5/16).

Contributing Editors: EBIA Staff.

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