Payroll Alert: HSA Contribution Limits Higher for 2012
Posted on Wed, May 25, 2011
Attention payroll managers: the IRS is increasing the maximum contribution to health savings accounts (HSAs) for 2012. This change includes a $50 increase to limits for a single-person plan and $100 for family plans. Out-of-pocket limits are also increasing for High-Deductible Health Plans (HDHP).
The IRS left the HSA contribution limits alone for the current 2011 calendar year, but is now adjusting for inflation.
The IRS establishes limits on four categories related to HSAs:
1. The amount of money someone can contribute to their HSA
2. The catch-up amount for people age 55 and older
3. The minimum medical insurance plan deductible to qualify for an HSA
4. The maximum out-of-pocket limit of a medical insurance plan
Here are the HSA limits for 2012:
| Single contribution limit to HSA: |
$3,100 |
| Family contribution limit to HSA: |
$6,250 |
| Catch-up for age 55+: |
$1,000 |
| Minimum single HDHP deductible: |
$1,200 |
| Minimum family HDHP deductible: |
$2,400 |
| Max. single HDHP out-of-pocket limit: |
$6,050 |
| Max. family HDHP out-of-pocket limit: |
$12,100 |