HSA inflation adjustments issued for 2014
On Thursday, the IRS issued the inflation-adjusted figures for the annual contribution limitation for health savings accounts (HSAs) and the minimum deductible amounts and maximum out-of-pocket expense amounts for high-deductible health plans for calendar year 2014.
Individuals who participate in a health plan with a high deductible are permitted a deduction for contributions to HSAs set up to help pay the individuals’ medical expenses. The limit on the contribution deduction is subject to an inflation adjustment each year. For 2014, the annual limitation on deductible contributions is $3,300 for individuals with self-only coverage and $6,550 for family coverage.
Tue, July 2, 2013