Tag Archives: Irs

2013 HSA Contribution Limits

2013 HSA Contribution Limits

The IRS has recently announced the new contribution limits for HSA’s (Health Savings Accounts).

HSA contribution limits: 

  • Individuals (self-only coverage) – $3,250 (up $150 from 2012)
  • Family coverage – $6,450 (up $200 from 2012)

HDHP minimum required deductibles:

  • $1,250 for self-only coverage
  • $2,500 for family coverage

Out-of-pocket maximum:

(Out-of-pocket expenses include deductibles, co-payments, and other amounts, but not premiums)

  • $6,250 for self-only coverage
  • $12,500 for family coverage

Under guidelines implemented in the Patient Protection and Affordable Care Act, over-the-counter drugs may only be reimbursed if they have a prescription. If a policyholder uses an HSA to pay for items or services that aren’t qualified medical expenses, the tax penalty is 20 percent of the HSA distribution.

2011 HSA Limits

2011 HSA Limits

The IRS has stated that they are not changing the limits for HSA’s from 2010 for 2011.

Minimum
Deductible
Maximum
Out-of-Pocket
Contribution Limit
55+ Contribution
Single
$1,200
$5,950
$3,050
$1,000
Family
$2,400
$11,900
$6,150
$1,000

HSA Bank