The Internal Revenue Service (IRS) released the new inflation adjustments for employee contributions towards employer-sponsored health flexible spending arrangements (HFSAs) at $2,600 for plan years beginning in 2017.
For HSAs, the self-only coverage maximum contribution has increased to $3,400 while family coverage contributions remain at $6,750.
A new rule for HRAs is that they must be integrated with other group health plan coverage in order to comply with Health Care Reform. Stand-alone and individual employee policies will not comply with the law as of 2017.
About 50 tax provision rates were adjusted and announced last month. To view all new rates or for more information on the rules mentioned above, visit the IRS website.
Share Your Thoughts