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.