IRS Issues HSA Limits for 2013
05/01/2012
IRS Issues HSA Limits for 2013
The Internal Revenue Service (IRS) just issued Revenue Procedure 2012-26. This document provides the 2013 inflation-adjusted deduction limits for annual contributions made to individual health savings accounts (HSAs). This document also provides adjusted minimum annual deductibles and maximum out-of-pocket limits for qualifying high deducible health plans (HDHPs). The IRS revisits these limits every year to reflect any necessary cost-of-living adjustments.
|
Contribution and Out-of-Pocket Limits |
2012 |
2013 |
Change |
|
HSA Contribution Limit |
|
|
|
|
Individual |
$3100 |
$3250 |
+$150 |
|
Family |
$6250 |
$6450 |
+$200 |
|
HSA Catch-Up Contributions (age 55+) |
$1000 |
$1000 |
no change* |
|
HDHP Minimum Deductible Amount |
|
|
|
|
Individual |
$1200 |
$1250 |
+$50 |
|
Family |
$2400 |
$2500 |
+$100 |
|
HDHP Maximum Out-of-Pocket Amount |
|
|
|
|
Individual |
$6050 |
$6250 |
+$200 |
|
Family |
$12,100 |
$12,500 |
+$400 |
*Unlike other limits, the HSA catch-up contribution provision is not indexed; any increase to this amount requires statutory change.
Planning for 2013: FSA Limit Reminder
Beginning January 1, 2013, federal law will limit pre-tax contributions to Health Care FSAs to $2500 per calendar year. This limit applies on an individual taxpayer basis, which means that joint taxpayers can each contribute up to $2500 to a Health Care FSA. It is also important to note that this new limit applies on a calendar year rather than a play year basis. Non-calendar year plans should be modified in 2012 to anticipate this change.
view all news