On July 8, 2016, the Internal Revenue Service (IRS) issued proposed regulations on the Affordable Care Act’s (ACA) premium tax credit and individual mandate. The regulations also impact employers through the employer shared responsibility rules.
- Each year, the IRS announces inflation-adjusted limits for HSAs/HDHPs.
- The adjusted contribution limits for HSAs take effect as of the next Jan. 1.
- The adjusted HDHP limits (minimum deductible and maximum out-of-pocket expenses) take effect for the plan year beginning on or after the next Jan. 1.
On April 29, 2016, the Internal Revenue Service (IRS) released Revenue Procedure 2016-28 to announce the inflation-adjusted limits for health savings accounts (HSAs) and high deductible health plans (HDHPs) for 2017.