|
HSA Limits Per Internal Revenue Service Revenue Procedure 2010-22, the maximum HSA contribution for 2016 is: Over 55 - Single $4350 - Family $7750 In addition, the minimum deductible will be $1300 for single coverage and $2,600 for family coverage. The maximum out-of-pocket employee expense, including deductibles, will be $6,550 for single coverage and $13,100 for family coverage.  |
|||||||||||||||||||||||||
 |
||||||||||||||||||||||||||
Additional Medicare Tax on High Earners |
||||||||||
| Effective for taxable years after December 31, 2012, the Medicare tax rate will increase 0.9% (for employee withholding only) from 1.45% to 2.35% on wages paid over $200,000. There is no employer match for the additional Medicare tax as there is with the regular Medicare tax. |
||||||||||
| An individual is liable for additional Medicare tax if the individual’s wages, other compensation, or self-employment income (together with that of his or her spouse if filing a joint return) exceed the threshold amount for the individual’s filing status: | ||||||||||
|
||||||||||
| An employee cannot request that the employer deduct and withhold Additional Medicare Tax on wages of $200,000 or less. However, an employee who anticipates liability for Additional Medicare Tax may submit a new Form W-4 requesting additional income tax withholding. An employee might request additional income tax withholding on wages not in excess of $200,000 if, for example, the employee is married and files a joint return and anticipates liability for Additional Medicare Tax because combined wages of the employee and his or her spouse will exceed $250,000. |
