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.
|