IRS Updates HSA Limits for 2012
05/17/2011
The Internal Revenue Service (IRS) just issued Revenue Procedure 2011-32. This document provides the 2012 inflation-adjusted deduction limits for annual contributions made to a health savings account (HSA). These deduction limitations are updated every year to reflect the cost-of-living adjustments:
| HSA Maximum Annual Contribution |
2011 |
2012 |
|
Individual |
$3,050 |
$3,100 |
|
Family |
$6,150 |
$6,250 |
Also for 2012, a "high deductible health plan" is defined under as a health plan with an annual deductible that is not less than $1,200 (no change from calendar year 2011) for self-only coverage or $2,400 (no change from calendar year 2011) for family coverage. The annual out-of pocket expenses (deductibles, co-payments, and other amounts, but not premiums) do not exceed $6,050 for self-only coverage or $12,100 for family coverage.
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