IRS Announces HSA Limits for 2014

HSA limits

The IRS has announced inflation-adjusted limits for health savings accounts (HSAs) and high-deductible health plans in 2014.

Health savings accounts are an increasingly popular option for employees who opt for a high-deductible health plan. With HSAs, participants can set aside funds to pay for qualified medical expenses, which they can withdraw as needed.

Here are the HSA limits for 2014:

  • Single HSA contribution limit: Increasing from $3,250 to $3,300
  • Family HSA contribution limit: Increasing from $6,450 to $6,550
  • Catch-up contributions for age 55+: (no change) $1,000
  • Minimum single HDHP deductible: remaining the same at $1,250
  • Maximum single HDHP out-of-pocket limit: Increasing from $6,250 to $6,350
  • Minimum family HDHP deductible: remaining the same at $2,500
  • Maximum family HDHP out-of-pocket limit: Increasing from $12,500 to $12,700

For more information on health savings accounts for 2014, read the IRS notice.

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