| Item | Description | FY2014 | FY2015 | FY2016 | FY2017 | FY2018 |
|---|---|---|---|---|---|---|
| 1.422 |
Health Savings Accounts
Massachusetts adopted the federal deduction allowed to individuals for contributions to a Health Savings Account, subject to federal limitations, which are adjusted annually for inflation. For calendar year 2016, the maximum deduction limit is $3,350 for an individual plan and $6,750 for a family plan. Filers age 55 or older may increase the maximum deduction by $1,000. Origin: IRC §§ 62(a)(19) and 223 Estimate: $10.1 |
5.7 | 6.7 | 8.0 | 9.0 | 10.1 |
| ORIGIN | |
| IRC | Federal Internal Revenue Code (26 U.S.C.) |
|---|---|
| U.S.C | United States Code |
| M.G.L. | Massachusetts General Laws |
| Rev. Rul.; C.B. | Revenue Ruling; Cumulative Bulletin of the U.S. Treasury |
| ESTIMATES | All estimates are in $ millions. |