Spencer Fane LLP Logo

Dollar Limits

2016 Inflation Adjustments

Following recent announcements by both the IRS and the Social Security Administration, we now know most of the dollar amounts that employers will need to administer their benefit plans for 2016. The key dollar amounts for retirement plans and individual retirement accounts (“IRAs”) are shown on the front side of this card.

Employee Benefits Plans – 2015 Inflation Adjustments

Following recent announcements by both the IRS and the Social Security Administration, we now know most of the dollar amounts that employers will need to administer their benefit plans for 2015.

IRS Announces 2015 Amounts for HSAs, HDHPs, and Out-of-Pocket Limits; Creates Another Trap for HDHP Sponsors

In Revenue Procedure 2014-30, the IRS has announced the 2015 inflation-adjusted amounts for health savings accounts (“HSAs”) and qualifying high deductible health plans (“HDHPs”), all as determined under Section 223 of the Internal Revenue Code. The maximum annual out-of-pocket expense amounts for all “essential health benefits” under non-grandfathered health insurance plans and policies will also increase for the 2015 plan and policy years. Unfortunately, there will now be a “disconnect” between the maximum HDHP out-of-pocket amount and the maximum amount allowed under other non-grandfathered plans.

2014 Inflation Adjustments

Following recent announcements by both the IRS and the Social Security Administration, we now know most of the dollar amounts that employers will need to administer their benefit plans for 2014.

IRS Announces 2014 Amounts for HSAs, HDHPs, and Out-Of-Pocket Limits

In Revenue Procedure 2013-25, the IRS has announced the 2014 inflation-adjusted amounts for health savings accounts (“HSAs”) and qualifying high deductible health plans (“HDHPs”), all as determined under Section 223 of the Internal Revenue Code.  The total annual out-of-pocket expense amounts will also apply to all “essential health benefits” offered under non-grandfathered health insurance plans and policies beginning in 2014.

2013 Inflation Adjustments

Following recent announcements by both the IRS and the Social Security Administration, we now know most of the dollar amounts that employers will need to administer their benefit plans for 2013.

IRS Announces 2013 Amounts for HSAs and HDHPs

In Revenue Procedure 2012-26, the IRS has announced the 2013 inflation-adjusted amounts for health savings accounts (“HSAs”) and qualifying high deductible health plans (“HDHPs”), all as determined under Section 223 of the Internal Revenue Code.

2012 Inflation Adjustments

After holding steady for the past two years, many of the dollar amounts of interest to administrators of employer retirement plans and health savings accounts will be going up for 2012.

2011 Annual Benefit Plan Amounts

The IRS recently announced inflation-adjusted dollar limitations and cost-of-living adjustments applicable to qualified retirement plans in 2011. All of these limits remain unchanged from 2010. The Social Security Administration has made a similar announcement regarding Social Security premiums and benefits. Spencer Fane’s Employee Benefits Group has prepared a summary of the limits.

Retirement Plan Limits Unchanged for 2010

Traditionally, the IRS has announced inflation-adjusted retirement plan limits in October, based on the inflation rate during the prior twelve-month period. This time, however, the IRS announcement was that these limits would not be decreased, despite an actual rate of deflation during the prior twelve months.

1 2 Showing 1-10 of 12 results View All