Health Savings Account Annual Contribution Limits

Health Savings Accounts (HSA) provide tax benefits for the funds that you contribute. However, the Internal Revenue Service limits the amount you are able to contribute to an HSA for each tax year.  The Internal Revenue Service (IRS) reviews and determines the HSA contribution limits on an annual basis. The limits for 2010 and 2011 are listed below. An additional annual catch-up contribution is available to individuals over the age of 55 who are not enrolled in Medicare.
 

2010 Maximum HSA Contributions
Individual contribution
$3,050
Family contribution
$6,150
Catch-up contribution (over age 55 and not enrolled in Medicare)
$1,000
 

The IRS has determined that the change in inflation was not significant enough to result in adjustments to the 2011 limits on Health Savings Account contributions.

Additionally, for a health plan to qualify as a “high deductible health plan” for the 2011 calendar year, the health plan will have, at minimum, an annual deductible of $1,200 for single coverage and $2,400 for family coverage. The annual out-of-pocket maximum is no more than $5,950 for single coverage and $11,900 for family coverage.
 

2011 Maximum HSA Contributions
Individual contribution
$3,050
Family contribution
$6,150
Catch-up contribution (over age 55 and not enrolled in Medicare)
$1,000

For more information on the 2011 contribution limits or plan qualifications please click here.