Employee Benefits Blog
Posts tagged Health Savings Accounts
May 7, 2013
The health savings account (HSA) is an increasingly popular employee benefit that is coupled with a “high deductible health plan”. The number of individuals covered by an HSA eligible high-deductible health plan has more than doubled since 2008.
Revenue Procedure 2013-25 outlines the 2014 inflation adjusted amounts for HSAs as follows:
- 2014 Annual contribution limitations
- Individual with self-only coverage - $3,300
- Individual with family coverage - $6,550
For 2014, a health plan will be considered a “high deductible plan” for HSA purposes if it meets the following criteria:
- Annual deductible for self-only coverage of $1,250 or more with an out-of-pocket maximum that doesn’t exceed $6,350.
- Annual deductible for family coverage of $2,500 or more with an out-of-pocket maximum that doesn’t exceed $12,700.