EBIA Weekly Newsletter

IRS Issues 2015 Version of Publication 969 on HSAs, HRAs, Health FSAs, and MSAs

   February 25, 2016

IRS Publication 969 (Health Savings Accounts and Other Tax-Favored Health Plans (for 2015 Tax Returns))

Available at https://www.irs.gov/pub/irs-prior/p969–2015.pdf

Publication 969 has been updated for use in preparing 2015 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 2015 version. A reminder contains updated information about the federal tax treatment of same-sex married couples. The HSA contribution limits and HDHP deductibles and out-of pocket maximums (see our Checkpoint article), and the Archer MSA deductibles and out-of-pocket maximums (see our Checkpoint article), have all been revised for 2015. Adjusted limits and thresholds for HSAs and HDHPs for 2016 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 2015 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 March 10 webinar, “Workplace Health Savings Accounts (HSAs).”

Contributing Editors: EBIA Staff.