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May 08, 2013
2014 HSA contribution limits announced

The annual health savings accounts (HSA) contribution limit will increase $50 to $3,300 in calendar year 2014 for an eligible individual with self-only coverage, the IRS recently announced. The contribution limit for family coverage will increase $100 to $6,550.

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For calendar year 2014, a high deductible health plan (HDHP) is defined as having:

  • An annual deductible of at least $1,250 for self-only coverage or $2,500 for family coverage (the same as 2013); and
  • Annual out-of-pocket expenses (e.g., deductibles, co-payments, and other amounts, but not premiums) up to $6,350 for self-only coverage or $12,700 for family coverage (compared to $6,250 and $12,500 in 2013).

This new HSA contribution limits are effective for calendar year 2014. The IRS notice is available online.

Related resource:

Important Tax Dates for Employers

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