As many of you know, I track the data needed to make inflation adjustments for Health Savings Accounts from one year to the next. I have accurately predicted the annual adjustments by the Internal Revenue Service for the past 10 years.
With the recent release of the December inflation figures by the Bureau of Labor Statistics, the inflation-adjusted amounts for HSAs for 2017 are coming into view. With only three months of data remaining to be collected, I can now project the 2017 HSA amounts with virtual certainty.
I am projecting that only one amount will change for 2017, and that is good news for single individuals who will see their contribution limits rise by $50. It looks like all other amounts will remain unchanged for 2017. You can find my projections on my website AskMrHSA.com.
The good news for insurance carriers is that they will not need to make any changes to their HSA-qualified insurance plan designs for 2017 — the minimum deductibles and annual out-of-pocket limits will remain at 2016 levels. So carriers can start now to finalize their plan designs for next year.
If inflation remains low (as is expected), my projections are likely to be the final 2017 amounts determined by the IRS later this Spring. Look for my final projections in April.