The annual HSA contribution limit will increase $150 to $3,250 in calendar year 2013 for an eligible individual with self-only coverage. The contribution limit for family coverage will increase $200 to $6,450, the recently announced.
For calendar year 2012, a high deductible health plan (HDHP), which must be used in conjunction with HSAs, is defined as having:
- An annual deductible of at least $1,250 for self-only coverage or $2,500 for family coverage (compared to $1,200 and $2,400 in 2012); and
- Annual out-of-pocket expenses (e.g., deductibles, co-payments, and other amounts, but not premiums) up to $6,250 for self-only coverage or $12,500 for family coverage (compared to $6,050 and $12,100 in 2012).
This new HSA contribution limits are effective for calendar year 2013. The IRS notice is available online.
Important Tax Dates for Employers