RSS icon

Top Stories

Maximum HSA Contribution to Rise Slightly in 2012

May 16, 2011
Related Topics: Finance/Taxes, Benefit Design and Communication, Health and Wellness, Latest News
Reprints

The maximum contributions that can be made to health savings accounts in 2012 will rise slightly, the Internal Revenue Service said on May 16.

Under IRS Revenue Procedure 2011-32, the maximum contribution that can be made to an HSA in 2012 is $3,100 for employees with single coverage, up from $3,050 this year.
The maximum HSA contribution for those with family coverage will be $6,250, up from $6,150 this year.

The maximum out-of-pocket employee expense, including deductibles, will rise next year to $6,050 for single coverage, up from $5,950 this year. For family coverage, it will increase to $12,100 next year from $11,900 this year.

Increases in the HSA limits are tied to changes in the cost of living, However, the minimum deductible for a high-deductible health care plan to which HSAs must be linked will stay at $1,200 for single coverage and $2,400 for family coverage, the IRS said.

As of 2010, about 10 million people were enrolled in high-deductible health insurance plans to which HSAs must be linked, a 25 percent increase over 2009, according to America’s Health Insurance Plans. Enrollment figures for 2011 are expected to be released soon.  

Filed by Jerry Geisel of Business Insurance, a sister publication of Workforce Management. To comment, email editors@workforce.com.

 

Stay informed and connected. Get human resources news and HR features via Workforce Management’s Twitter feed or RSS feeds for mobile devices and news readers.

Comments powered by Disqus

Hr Jobs

Loading
View All Job Listings