Thursday, May 26, 2011

HSA: IRS Releases New Limits

The 2012 limits for HSAs have been released by the IRS in Revenue Procedure 2011-32.

MINIMUM ANNUAL DEDUCTIBLES

There is no change in the minimum annual deductibles required for a plan to be considered a "high deductible health plan", or "HDHP". They remain at $1,200 for single coverage and $2,400 for family coverage.

OUT OF POCKET MAXIMUMS

The maximum out of pocket maximums for HDHPs for 2012 will increase to $6,050 for single coverage and $12,100 for family coverage (2011 levels are $5,950 single/$11,900 family).

ANNUAL INDIVIDUAL CONTRIBUTION LIMIT

The maximum permitted contribution to the HSA on behalf of an individual increases to $3,100 for an individual with single coverage and $6,250 for an individual with family coverage (2011 levers are $3,050 single/$6,150 family).

If you have any questions about how this impacts your health insurance or would like help planning for 2012, please call me at 516-682-8400.

Bob