The annual HSA contribution limit will increase $150 to $3,250 in calendar year 2013 for an eligible individual with self-only coverage. The contribution limit for family coverage will increase $200 to $6,450, the recently announced.
For a Limited Time receive a
FREE HR Report "Top 10 Best Practices in HR Management." This comprehensive special report will give you the information you need to know about these current HR challenges and how to most effectively manage them in your workplace.
Download NowFor calendar year 2012, a high deductible health plan (HDHP), which must be used in conjunction with HSAs, is defined as having:
- An annual deductible of at least $1,250 for self-only coverage or $2,500 for family coverage (compared to $1,200 and $2,400 in 2012); and
- Annual out-of-pocket expenses (e.g., deductibles, co-payments, and other amounts, but not premiums) up to $6,250 for self-only coverage or $12,500 for family coverage (compared to $6,050 and $12,100 in 2012).
This new HSA contribution limits are effective for calendar year 2013. The IRS notice is available online.
Related resource:
Important Tax Dates for Employers