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Alert - IRS Issues 2012 Indexed Amounts for HSAs

 
 

Pension Digest Alert
IRS Issues 2012 Indexed Amounts for HSAs
May 2011

The HSA contribution limits for 2012 are slightly larger than the 2011 limits. The Treasury Department and Internal Revenue Service issued new guidance on the maximum contribution levels for Health Savings Accounts (HSAs) and out-of-pocket spending and deductible limits for High Deductible Health Plans (HDHPs) that must be used in conjunction with HSAs. The 2012 limits are set forth in Revenue Procedure 2011-32. In this revenue procedure, the IRS did not discuss whether the catch-up contribution amount of $1,000 changed. We have assumed it did not change for 2012.

HSA Maximum Contribution Limits
 
2011
2012
Change
Single HDHP
$3,050
$3,100
+ $50
Family HDHP
$6,150
$6,250
+ $100

HSA Catch-Up Contributions
 
2011
2012
Change
Age 55 and Older
$1,000
$1,000
$ 0

 

High Deductible Health Plans
 
Minimum Annual Deductible
Maximum Annual
Out-of-Pocket Expenses
2011
2012
2011
2012
Single Coverage
$1,200
$1,200
$5950
$5,950
Family Coverage
$2,400
$2,400
$11,900
$11,900

 

The IRS announces this change in May each year so that employers and individuals will have sufficient time to settle on HDHP insurance coverage and HSA contributions for 2012.



 
 

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