2011 Limits Released for HSA ContributionsTip Date: 2010-06-16
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. Those with single, or self-only, coverage may contribute up to $3,050 for 2011. Those with family coverage are eligible to contribute up to $6,150. The catch-up contribution for those age 55 and older will also remain the same at $1,000. All types of contributions (pre-tax, post-tax, third-party contributions, etc.) apply to the annual contribution limits. 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. |
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