Health Savings Accounts
The IRS has released Rev. Proc. 2008-29 providing inflation adjusted amounts that apply to HSAs for calendar year 2009. Under the Tax Relief and Health Care Act of 2006, inflation adjusted amounts must be published no later than June 1 of the preceding calendar year.
The statutory amount is the maximum contribution that can be made to an HSA for the year. Taxpayers who are at least age 55 by Dec. 31, 2009, may make an additional contribution of $1,000 in 2009. The catch-up contributions are $800 and $900 for 2007 and 2008 respectively. The minimum deductible and maximum out-of-pocket amounts are the parameters for qualifying high-deductible health plan coverage.
The statutory amount is the maximum contribution that can be made to an HSA for the year. Taxpayers who are at least age 55 by Dec. 31, 2009, may make an additional contribution of $1,000 in 2009. The catch-up contributions are $800 and $900 for 2007 and 2008 respectively. The minimum deductible and maximum out-of-pocket amounts are the parameters for qualifying high-deductible health plan coverage.
Inflation Adjusted Amounts |
2007 |
2008 |
2009 |
|
Indexed statutory amount |
Single coverage Family coverage |
$2,850 $5,650 |
$2,900 $5,800 |
$3,000 $5,950 |
Minimum HDHP deductible |
Single coverage Family coverage |
$1,100 $2,200 |
$1,100 $2,200 |
$1,150 $2,300 |
Maximum HDHP deductible plus out-of-pocket co-payments and other amounts |
Single coverage Family coverage |
$5,500 $11,000 |
$5,600 $11,200 |
$5,800 $11,600 |