06 January 2012

HSA CONTRIBUTION LIMITS

The Internal Revenue Service has announced the 2012 contribution limits for health savings accounts (HSAs) and cost-sharing amount for HSA-eligible, high-deductible health plans.
They are as follows:

Annual HSA contribution limits will be $3,100 for individual and $6,250 for family coverage. These limits have increased slighly from 2011 ($3,050 for individual and $6,150 for family).

Maximum out-of-pocket expenses (deductibles, co-payments and co-insurance) for HSA-eligible health plans will be $6,050 for individual and $12,100 for family coverage. These have also slightly increased from last year.

In order to make participants eligible for HSAs, a health plan must have deductibles of at least $1,200 for individual and $2,400 for family coverage.