HSA Annual Contribution Limits
Recent legislation has simplified the contribution requirements. For individuals and families (two or more) enrolled in a qualified high deductible health plan (HDHP), the maximum allowable contribution is as follows:
Tax Year 2008
- Individual Coverage: $2,900
- Family Coverage: $5,800
Tax Year 2009
- Individual Coverage: $3,000
- Family Coverage: $5,950
It is as simple as that. The only stipulation is that you must be enrolled in an HSA-compatible, high deductible health plan (HDHP) through the end of the year. And, you must remain in the HDHP for at least 12 months.
Catch-up Contributions
In addition to the maximum contribution, catch-up contributions may be made by eligible individuals ages 55 and older.
The annual catch-up contributions are as follows:
|
Year 2008 2009 and beyond |
Catch-up Contribution $ 900 $ 1000 |
Additional HSA Information
HSA Eligibility Requirements
HSA Tax Treatment
HSA Qualified Medical Expenses
Medical Savings Accounts
HSA for Graduate Students
