HSA Limits
The IRS just released information regarding the 2014 inflation adjusted amounts for Health Care Savings Accounts (HSAs). For 2014 the annual limit for individuals is $3,300 and for families is $6,550. To be eligible to contribute to an HSA you must have a high deductible health insurance plan.
High Deductible Health Insurance Plans
For a plan to be considered “high deductible” the deductible must be at least $1,250 for individuals and $2,500 for families, and max out of pocket expenses cannot exceed $6,350 for individuals or $12,700 for family coverage.
To read the full IRS Revenue Procedure 2013-25 click here.
