IRS Guidelines & Eligible Expenses

The IRS sets limits each year for maximum contributions to each type of account-based benefit.

Health Savings Account (HSA) – IRS Limits

2016 IRS Limits

  Single Plan Family Plan
Maximum Contribution Limit $3,350 $6,750
Minimum Deductible $1,300 $2,600
Maximum
Out-of-Pocket
$6,550 $13,100
Catch-up Contribution (55+) $1,000 $1,000

2017 IRS Limits

  Single Plan Family Plan
Maximum Contribution Limit $3,400 $6,750
Minimum Deductible $1,300 $2,600
Maximum
Out-of-Pocket
$6,550 $13,100
Catch-up Contribution (55+) $1,000 $1,000

Flexible Spending Account (FSA) – IRS Limits

2016 Maximum Contribution: $2,550

Dependent Care Flexible Spending Account (DCFSA) – IRS Limits

2016 Maximum Contribution: $2,500
If filing taxes jointly, Maximum Contribution: $5,000

Commuter Benefits Plan – IRS Limits

2016 Parking: $255 per month

2016 Transit: $255 per month

IRS-qualified Medical Expenses

You can pay for a wide range of IRS-qualified medical expenses with your HSA, including many that aren't typically covered by health insurance plans. This includes deductibles, co-insurance, prescriptions, dental and vision care, and more. For a complete list of IRS-qualified medical expenses, visit irs.gov or hsabank.com/IRSQualifiedExpenses.