Obamacare News Blog

HSA Contribution Limits 2015

Health Savings Accounts are health plans with a high-deductible that allows individuals and their qualified dependents to contribute pretax dollars into a savings account to pay for their out-of-pocket medical costs as needed. These plans are available with off-Exchange plans and ObamaCare plans.


HSA 2015 and 2016 Limits

2016 HSA Limits

HSA 2016 Limits
Deductible $1,300/$2,600 (ind/fam)
Contribution $3,350/$6,750 (ind/fam)
Max Out of Pocket $6,550/$13,100 (ind/fam)

2015 HSA Limits

HSA 2015 Limits
Deductible $1,300/$2,600 (ind/fam)
Contribution $3,350/$6,650 (ind/fam)
Max Out of Pocket $6,450/$12,900 (ind/fam)

HSA Benefits

The following are some of the benefits of an HSA plan.

  • Tax savings: Money put in your HSA may reduce your taxable income.
  • Tax-free earnings: Money kept in your HSA earns interest tax free.
  • Tax-free spending: Money taken out to pay for qualified health care costs is never taxed.
  • You maintain ownership of account: Unused money is yours to keep.
  • Investment Options: After a period of time you may be able to use your HSA for investment opportunities.

Click here to see a partial list of benefits your tax-free HSA contribution can pay for.

Employers Contribute to HSA

Job-based insurance can give you the option of an HSA either through your grandfathered work plan or a SHOP plan (Small Business Health Options Program).

An employer who doesn’t offer health insurance may still contribute to your HSA. This contribution, more than likely, does not count as earnings -always consult with your tax expert when figuring out new HSA plans.

To learn more about an HSA plan in your state call 800-930-7956 or contact Medicoverage.

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