2017 Tax Facts for Individuals/Families
Health Savings Accounts--2017
Maximum annual HSA contributions deductible--$3,400 for individual; $6,750 for family coverage
Catch-up contributions for individuals 55 or older (but less than 65) is $1,000.
Contribution limit prorated for partial year (1/12 per month).
Deductible Amounts that define High Deductible Plan:
Annual Deductible Deductibles, Co-Payments and other Amounts
Not Less Than but not Premiums Not to Exceed
Self Only $1,300 $ 6,550
Family Coverage 2,600 13,100
Taxable Thresholds--Social security payments includable in income if modified AGI exceeds base amounts.
Modified AGI includes certain excluded income (e.g., tax exempt interest) and 1/2 of social security payments.
50% inclusion threshold:
$25,000 no more than $34,000--single, head of household, married living apart ($0 for married, separate)
$32,000 no more than $44,000--married filing joint
85% inclusion threshold:
more than $34,000--single, head of household, married living apart ($0 for married, separate)
more than $44,000--married filing joint
OASDI Wage Base--$127,200
Household (domestic) employee cash wages threshold--$2,000
Quarter of coverage--$1,300
Retirement Savings Test--$16,920 (under full retirement age); $44,880 (year of full retirement age)
For a fact sheet on the COLA go to www.ssa.gov/news/press/factsheets/colafacts2017.pdf