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IRS releases 2012 HSA limits

May 17, 2011

The IRS has issued the 2012 contribution limits for health savings accounts: $3,100 for single plans and $6,250 for family plans. The 2011 limits are 3,050 for single plans and $6,150 for family plans.

You need a "high deductible" plan to qualify to make an HSA contribution. For 2012, that will be a plan with an annual deductible of at least $1,200 for single plans and $2,400 for family coverage; these are the same as the 2011 amounts. The plans can't have annual out-of-pocket expenses (besides premiums) for 2012 in excess $6,050 for single coverage and $12,100 for family coverage; the 2011 amounts are $5,950 for single coverage and $11,900 for family coverage.

Link: IRS Publication 969 on HSAs.

Tags: health savings accounts.HSA.