May 18, 2011 – Annual HSA Contribution Limits Increased For 2012

Annual HSA Contribution Limits Increased For 2012

The IRS has released guidance (available here: http://www.irs.gov/pub/irs-drop/rp-11-32.pdf) regarding the inflation adjusted amounts applicable to health savings accounts (HSA) for the 2012 calendar year. 

The minimum deductible for a qualifying high deductible health plan (HDHP) has not changed from 2011.  However, the annual contribution limits and out of pocket maximums have increased.

The 2012 amounts will be as follows:

HSAs

  • Annual limit of $3,100 on contributions/deductions for an individual with self-only coverage under an HDHP
  • Annual limit of $6,250 on contributions/deductions for an individual with family coverage under an HDHP

HDHPs

  • Minimum annual deductible of $1,200 for self-only coverage
  • Minimum annual deductible of $2,400 for family coverage
  • Annual out-of-pocket maximum cannot exceed $6,050 for self-only coverage
  • Annual out-of-pocket maximum cannot exceed $12,100 for family coverage

2012
HSA & HDHP

Minimum Deductible

Maximum
Out-of-Pocket

 

Contribution Limits

55+ Contribution

Single

$1,200

$6,050

$3,100

$1,000

Family

$2,400

$12,100

$6,250

$1,000

 

Please contact us if you have any questions.

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The information contained in this ALERT is intended for general information purposes only and does not constitute legal advice relative to a specific situation.