2009 Indexed HDHP and HSA Contribution Limits

 

The Treasury Department and Internal Revenue Service released IRS 2008-29which lists the new indexed amounts, adjusted for inflation, for HDHPs and HSAs under Internal Revenue Code section 223(g).

For HSAs:The annual HSA contribution amounts for individual coverage is $3,000 and $5,950 for family coverage. Catch-up contributions continue to be allowed for HSA eligible individuals age 55 and over. The annual catch-up contribution amounts have been increased to $1,000.

For a HDHP:In order for a plan to be considered a qualified HDHP, for 2009, the minimum deductible cannot be less than $1,150 for an individual and $2,300 for a family. The maximum out-of-pocket cannot exceed $5,800 for an individual and $11,600 for a family.

For any employer who currently offers an HSA and/or HDHP, employers must amend their plan documents and other marketing materials to reflect these new inflated amounts. Any employer who is considering adding a HSA and/or HDHP, should remember to build those

IRS Issue 2009 Indexed Amounts for Health Savings  Accounts

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Treasury, IRS Issue 2009 Indexed Amounts for Health Savings Accounts

On May 13, 2008 The Treasury Department and Internal Revenue Service today issued new guidance on the maximum contribution levels for Health Savings Accounts (HSAs) and out-of-pocket spending limits for High Deductible Health Plans (HDHPs) that must be used in conjunction with HSAs.  These amounts have been indexed for cost-of-living adjustments for 2009 and are included in Revenue Procedure 2008-29, which announces changes in several indexed amounts for purposes of the federal income tax.

Click here for the new deductible and contribution levels:

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