The IRS recently announced that the contribution limits for Health Savings Accounts (HSAs) will not be changing for next year. The IRS puts limits on four categories pertaining to HSAs:
- The amount of money someone can contribute to their HSA in a calendar year
- The catch-up amount for those age 55 and over (note this is a different age limit than 401k plans, which is age 50 and over)
- The minimum medical insurance plan deductible in order to qualify for an HSA
- The maximum out-of-pocket limit of the medical insurance plan
Here are the 2010- 2011 HSA Contribution Limits:
Single Contribution Limit to HSA $3,050.00
Family Contribution Limit to HSA $6,150.00
Catchup for age 55+ $1,000.00
Minimum Single HDHP Deductible $1,200.00
Minimum Family HDHP Deductible $2,400.00
Maximum Single HDHP OOP Limit $5,950.00
Maximum Family HDHP OOP Limit $11,900.00