 |
| Distributed April 29, 2014
|
| Inflation Adjusted Amounts for HSAs in 2015 |
| Recently, the IRS released Rev. Proc. 2014-30, which provides the 2015 inflation adjusted annual contribution amounts for health savings accounts (HSAs) as determined under Internal Revenue Code Section 223. Annual deductible and out-of-pocket maximum limits for HSA qualifying high deductible health plans (HDHP) are also included in the announcement. Summarized below are amounts effective for the 2015 calendar year. |
| 2015 Inflation Adjusted Items
|
| Calendar Year |
2015 |
2014 |
2013 |
Maximum HSA Annual Contribution Limit
(Self-only) |
$3,350* |
$3,300* |
$3,250* |
Maximum HSA Annual Contribution Limit
(Family) |
$6,650* |
$6,550* |
$6,450* |
| HSA Catch-up Contribution Limit |
$1,000 |
$1,000 |
$1,000 |
Minimum HDHP Annual Deductible
(Self-only) |
$1,300 |
$1,250 |
$1,250 |
Minimum HDHP Annual Deductible
(Family) |
$2,600 |
$2,500 |
$2,500 |
Maximum HDHP Annual Out-of-pocket
(Self-only) |
$6,450 |
$6,350 |
$6,250 |
Maximum HDHP Annual Out-of-pocket
(Family) |
$12,900 |
$12,700 |
$12,500 |
| *For purposes of the full contribution rule an employee is treated as being eligible for the entire calendar year as long as he or she is eligible as of December 1 of that calendar year and continues eligibility throughout the following year. However, failure to maintain eligibility during the "testing period" will result in adverse tax consequences (including an additional excise tax). The testing period begins in December of the year in which the employee becomes eligible and ends the last day of December of the following year. |
|
| For more information, please visit the IRS website for the full revenue procedure. |
|
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