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IRS Releases HSA Funding Limits for 2010
Compliance Resource
IRS Releases HSA Funding Limits for 2010
IMPORTANT UPDATE
IRS Releases HSA Funding Limits for 2010
For 2010, the contribution limit for an employee with self-only coverage under a qualifying high deductible health plan is $3,050, up $50 from 2009. For an employee with family coverage, the limit is $6,150, up $200 from 2009.
A qualifying high deductible health plan for 2010 is defined as a health plan with an annual deductible greater than or equal to $1,200 for self-only coverage or $2,400 for family coverage. The limit on annual out-of-pocket expenses is $5,950 for self-only coverage or $11,900 for family coverage.
The current limits and corresponding 2010 limits for self-only and family coverages are compared in the chart below.
| |
2009 |
2010 |
| Self-only coverage minimum deductible |
$ 1,150 |
$ 1,200 |
| Self-only coverage maximum out of pocket |
$ 5,800 |
$ 5,950 |
| Self-only coverage maximum HSA contribution |
$ 3,000 |
$ 3,050 |
| Family coverage minimum deductible |
$ 2,300 |
$ 2,400 |
| Family coverage maximum out of pocket |
$ 11,600 |
$ 11,900 |
| Family coverage maximum HSA contribution |
$ 5,950 |
$ 6,150 |
| Catch-Up Contributions (age 55 or older) |
$ 1,000 |
$ 1,000 |
The IRS release can be viewed at http://www.irs.gov/pub/irs-drop/rp-09-29.pdf