The IRS has announced the annual limitation on deductions for the 2012 calendar year for individuals and families who have coverage under a high deductible health plan.
The table below reflects a summary of the 2012 HSA contribution and HSA compatible health plan limits.
|Tax Year 2012|
|HSA annual contribution limits||Single – $3,100 Family – $6,250|
|HSA catch-up contributions||$1,000 per individual age 55 or older|
|Minimum deductible||Single – $1,200 Family – $2,400|
|Maximum out-of-pocket expenses||Single – $6,050 Family – $12,100|
For additional information go to the US Department of Treasury web site at www.treasury.gov